Rendering theme_item_list items
Something like this:

foreach ($images as $image) {

  // New array for readability
  $options = array(
    'path' =&gt; $image-&gt;url,
    'alt' =&gt; $image-&gt;alt,
  );

  // Push the image tag onto the items array
  $block['content']['list']['#items'][] = theme('image', $options);
}