Embedding youtube etc videos in flash, via external text file?

Alright guys? Is it possible to put the embed code into an external text file, to make a scrollable textbox which includes videos? I know with flash mx 2004 it is possible with images, but does it work the same for videos? If not how would i go about it?

Would I be better off just calling up an external html file in another window instead?

Thanks in advance.