We index SVG content whether it is in a standalone file or embedded directly in HTML. The web is big, so it may take some time before we crawl and index most SVG files, but as of today you may start seeing them in your search results. If you want to see it yourself, try searching for [sitemap site:fastsvg.com] or [HideShow site:svg-whiz.com]
My take - indexing the svg format won't mean anything for ordinary search traffic for a long time, just as indexing swf format has meant very little. But fpr now, it's good to know that you can find things with the filetype: operator.