How to place images inside dynamically loaded text

I’m wondering if anyone could advise me on how to place images inside dynamically loaded text.

I have a textfield loading text from an external file - I’d like to have images wrapped in the text, like any html page - any ideas?

I tried using html <image> tags to mark up a layout, but flash doesn’t really support html, not really, they say they do, but really they only support <a> and a few other tags - woot!

Thanks!