Help with RSS XML Feed and ActionScript 3

I am working on a Flash based RSS reader and trying to extract just the <img src="…"> code out of the <description> tag, but I haven’t found a solution. I tried doing a trace, but that comes up with a undefined for data.

Here is my code so far and RSS XML example:

var loader:URLLoader = new URLLoader();
loader.addEventListener(Event.COMPLETE, onLoaded);

lb.addEventListener(Event.CHANGE, itemChange);

function itemChange(e:Event):void
{
    tb.htmlText =  lb.selectedItem.data;
    ta.htmlText = "<a href=\"" + lb.selectedItem.link + "\">" + lb.selectedItem.label + "</a>";
}

var xml:XML;

function onLoaded(e:Event):void
{
    
    xml = new XML(e.target.data);
    var il:XMLList = xml.channel.item;  
    for(var i:uint=0; i<il.length(); i++)
    {
        lb.addItem({data:il.description.text()*, link:il.link.text()*,
                        label:il.title.text()*});
    }
}

loader.load(new URLRequest("http://www.siteurl.com/rss.xml"));


    <channel>
        <title>Site Name</title>
        <description></description>
        <link>http://www.siteurl.com</link>
        <lastBuildDate>Sat, 01 Mar 2008 22:02:43 +0000</lastBuildDate>
        <generator>FeedCreator 1.7.2</generator>
        <image>
            <url>/images/logo.png</url>
            <title>Site Name</title>
            <link>http://www.siteurl.com</link>
            <description><![CDATA[Site Name]]></description>
        </image>
        <item>
            <title>Title of First Feed Item</title>
            <link>http://www.siteurl.com/link.html</link>
            <description><![CDATA[<img src="http://www.siteurl.com/images/stories/users/logo.jpg" align="left" border="0" alt="" /> This is a sample article with a preceeding picture.</description>

         </item>
     <channel>

So under the <item><description>, it has a preceeding image, I just want to pull the Image URL and drop everything else.

Thanks,

Corey