The standard example page such as the one built when you run a silverlight app from visual studio handles this for you.
<object data="data:application/x-silverlight-2," type="application/x-silverlight-2" width="100%" height="100%">
<param name="source" value="SilverlightApplication1.xap"/>
<param name="onError" value="onSilverlightError" />
<param name="background" value="white" />
<param name="minRuntimeVersion" value="3.0.40624.0" />
<param name="autoUpgrade" value="true" />
<a href="http://go.microsoft.com/fwlink/?LinkID=149156&v=3.0.40624.0" style="text-decoration:none">
<img src="http://go.microsoft.com/fwlink/?LinkId=108181" alt="Get Microsoft Silverlight" style="border-style:none"/>
</a>
</object>
Note that when an object tag is unable instance the object associated with the type it renders inner html present instead. So could modify the inner html to display what ever you feel is an appropriate fallback.