I feel compelled to give a more elegant way using heredoc than the other comment:
<ul>
<?php foreach($list as $item): echo
<<<ITEM
<li id="itm-$item[number]">Item $item[name]</li>
ITEM;
endforeach; ?>
</ul>
Which works better with multi line blocks, as you only need one overall php tag.
(please don't omit the closing </li> tag despite it being legal, personal preference)