Stay away from a regex for this. DOMDocument
is your friend:
$dom = new DOMDocument;
$dom->loadHTML( $theHTMLstring );
$array = array();
foreach ( $dom->getElementsByTagName('li') as $li ) {
$divs = $li->getElementsByTagName('div');
$array[] = array(
$divs->item(0)->textContent,
$divs->item(1)->textContent
);
}
See it here in action: http://codepad.viper-7.com/5ExOqJ