Relace function of mysql

Hi,
Want to know that is their any option of inserting a record if the record does not exist in the table..while firing update query.
In mysql, we have replace which updates or inserts the record.
do let me know
thanx,
vivek.No SQL Server does not have a command like that. In my case all of my commands are done within a stored procedure, so I first check to see if the record exists, if yes then UPDATE else INSERT.

IF EXISTS (SELECT * FROM myTable WHERE pkey = @.pkey) BEGIN
UPDATE myTable
.
.
.
.
END ELSE
INSERT myTable
.
.
.
.
END|||Thanx,

will surely try with Stored procs.

regards,
vivek.