flowlabs has a PSD to XAML converter.
Psd2Xaml (with a splash of swf)
Simple, free, open-source tool for converting Photoshop .PSD files to XAML. Also supports limited SWF conversion to XAML.
This project is a by-product of the development of PaintLab, a node-based paint application.
Read more about the underlying PSD parser in this article: http://www.codeproject.com/cs/media/PSDParser.asp
Drag’n’drop PSD or SWF files to the application, and it will create XAML files in the same directory but with the extension xaml instead of psd. The individual layers’ bitmaps are saved in a subdirectory with the same name as the output .xaml file plus “_Bitmaps”.
Example: “Test.psd” is converted to”Test.xaml” and a new folder with the name “Test.xaml_Bitmaps” will be created, containing the bitmaps.