Although not fit with your Endless Loopm but this is a Loop where you stop at the Endpoint
var el = $('.innerfade li'), i = 0; $(el[0]).fadeIn();
(function loop() { if(i+1<4){ el.delay(1000).fadeOut(300).eq(++i%el.length).fadeIn(500, loop);
} else el.delay(1500).fadeOut(1000);
} ());