Can I load type from Silverlight 4 class lib assembly into my .NET 3.5 based process?

Question

By now when I attempt to

var a = Assembly.LoadFrom("SL4ClassLib.dll");
var typeInstance = a.CreateInstance("ClassName");

I get FileNotFoundException, because no System.Runtime.Serialization Version=2.0.5.0 found. This assembly goes with SL 4 runtime. I can't add reference to it from my 3.5 app, cause it already has reference to System.Runtime.Serialization Version=3.0.0.0. Is it safe to add bindingRedirect for such assemblies? My ultimate goal is stated in the subject, I want to be able to load assemblies compiled for SL 4 into my 3.5 app. Is it possible? SL4ClassLib.dll contains just one class, pure data, no behavior.