SSRS is now available in SQL Server 2005 Express!

Check out

SQL Server 2005 Service Pack 1 Express Editions and Tools - Community Technology Preview (CTP) March 2006

"SQL Server Express Edition Toolkit (SQLEXPR_TOOLKIT.EXE) SQL Server 2005 Express Edition Toolkit (SQL Server Express Toolkit) provides tools and resources to manage SQL Server Express and SQL Server Express Edition with Advanced Services. It also allows creating reports by using SQL Server 2005 Reporting Services (SSRS)."

Pretty neat, isn't it?