Option to change the HTML tag for query template + its items

It would be nice if we would be able to change the HTML tag for the query template (wrapper) and its items.

For example, if I would like to display 3 most recent posts, the ideal html structure would be:

<ul> (query wrapper)
   <li> (query item)

Right now it is just bunch of divs and we don’t have a control over the HTML tags.

Some related threads:

Yep, it seems I am not the only one that is needing this functionality.