You can use Splicer to do this.
Please see example 3 at http://www.codeplex.com/splicer/Wiki/View.aspx?title=News%20Feeds&referringTitle=Home
Edit:
using (ITimeline timeline = new DefaultTimeline(25))
{
IGroup group = timeline.AddVideoGroup(32, 160, 100);
ITrack videoTrack = group.AddTrack();
IClip clip1 = videoTrack.AddImage("image1.jpg", 0, 2);
IClip clip2 = videoTrack.AddImage("image2.jpg", 0, 2);
IClip clip3 = videoTrack.AddImage("image3.jpg", 0, 2);
IClip clip4 = videoTrack.AddImage("image4.jpg", 0, 2);
double halfDuration = 0.5;
group.AddTransition(clip2.Offset - halfDuration, halfDuration, StandardTransitions.CreateFade(), true);
group.AddTransition(clip2.Offset, halfDuration, StandardTransitions.CreateFade(), false);
group.AddTransition(clip3.Offset - halfDuration, halfDuration, StandardTransitions.CreateFade(), true);
group.AddTransition(clip3.Offset, halfDuration, StandardTransitions.CreateFade(), false);
group.AddTransition(clip4.Offset - halfDuration, halfDuration, StandardTransitions.CreateFade(), true);
group.AddTransition(clip4.Offset, halfDuration, StandardTransitions.CreateFade(), false);
ITrack audioTrack = timeline.AddAudioGroup().AddTrack();
IClip audio =
audioTrack.AddAudio("soundtrack.wav", 0, videoTrack.Duration);
audioTrack.AddEffect(0, audio.Duration,
StandardEffects.CreateAudioEnvelope(1.0, 1.0, 1.0, audio.Duration));
using (
WindowsMediaRenderer renderer =
new WindowsMediaRenderer(timeline, "output.wmv", WindowsMediaProfiles.HighQualityVideo))
{
renderer.Render();
}
}