Animated Splash Screen in WP7

When you create a new Windows Phone 7 project Visual Studio adds a SplashScreenImage.jpg image into it. This image is displayed until your application is loaded. The problem is that the SplashScreenImage.jpg is just a static image. So the question is how can we add an animated ProgressBar to splash screen.

Alex Yakhnin has a great solution on his blog:
http://blogs.msdn.com/b/priozersk/archive/2010/08/17/creating-a-splash-screen-with-a-progress-bar-for-wp7-applications.aspx

The source code: ProgressSplashScreen.zip