If you place the image tag before the text, you can align the image to it. I just noticed that the filter seems OK with attributes so long as the right side is enclosed by quotes like the quotes around "right" below, it doesn't normally have to be.
<img src="http://upload.wikimedia.org/wikipedia/en/f/f1/Kusuma_bike_large.jpg" align="right"> This a bicycle, a very nice bicycle. This a bicycle, a very nice bicycle. This a bicycle, a very nice bicycle. This a bicycle, a very nice bicycle. This a bicycle, a very nice bicycle.This a bicycle, a very nice bicycle. This a bicycle, a very nice bicycle. This a bicycle, a very nice bicycle. This a bicycle, a very nice bicycle. <br><br>This a bicycle, a very nice bicycle. This a bicycle, a very nice bicycle. This a bicycle, a very nice bicycle. This a bicycle, a very nice bicycle. This a bicycle, a very nice bicycle. This a bicycle, a very nice bicycle. This a bicycle, a very nice bicycle. This a bicycle, a very nice bicycle.[/quote]
Ah, we need the BR tag too for line returns, I'll add that too.