I understood your point and tried to modify the source path. However I am wandering that when I am trying to Register the System.Web.Silverlight why I am getting that warning and error. Element Silverlight is not a known element. Web.Config File Missing and all those stuffs. What I have understood from the link you provided earlier is that there are two controls already shipped with Silverlight 2 SDK. i.e.
Meadia Control and Silverlight Control.
Since this Silverlight Control is not shipped by default with Silverlight 5 SDK I was thinking of that way out. Can you suggest about modifying the web.config file ?