Here's the best I could come up with:
<object width="425" height="350"><param name="movie" value="http://www.youtube.com/v/k7fdwk7iirk"></param><param name="wmode" value="transparent"></param><embed src="http://www.youtube.com/v/k7fdwk7iirk" type="application/x-shockwave-flash" wmode="transparent" width="425" height="350"></embed></object>