Xaositek , a XDA developer has posted the instructions to root Wi-Fi only Motorola Xoom. This rooting process involves using the Android SDK and some command-lines commands.
The full instructions are available at XDA Application Thread at http://forum.xda-developers.com/showthread.php?t=1010568. We are also sharing the video tutorial below for the same.
Your Motorola Xoom should be bootloader unlocked for this to work. Follow this [Video Tutorial] for bootloader unlocking of Motorola Xoom.
Video showing How to Root Wi Fi model Motorola Xoom
NOTE: Follow the procedure only if you are expert. This rooting process will void your any warranty of your handset.