ASP.NET: RadioButtonList with images instead of/in addition to text.

I have created an with 4 entries. I want the 4 entries to show images (thumbnails) instead of text. My code is as follows: 
<asp:RadioButtonList ID="rdoRadioGroupName" runat="server" >
<asp:ListItem id="rdoItem1" runat="server" value="<img src='~/Images/image001.jpg'>" Text="Text1" />
<asp:ListItem id="rdoItem2" runat="server" value="Text2" />
<asp:ListItem id="rdoItem3" runat="server" value="Text3" />
<asp:ListItem id="rdoItem4" runat="server" value="Text4" />
</asp:RadioButtonList>
I have added an image value in the declaration for rdoItem1, and even though the image is valid and in the specified directory, it only shows the ...