Since, everyone at cricinfo seems to be in the mood, I decided to give it a shot too :-) Here we go :-

1) Jack Hobbs (Eng)
2) Sunil Gavaskar (Ind)
3) Donald Bradman (Aus) [capt]
4) Graeme Pollock (SA)
5) George Headley (WI)
6) Garfield Sobers (WI)
7) Adam Gilchrist (Aus) [wk.]
8) Imran Khan Niazi (Pak)
9) Richard Hadlee (NZ)
10) Malcolm Marshall (WI)
11) Mutthiah Muralitharan (SL)

Regrettably, greats like Keith Miller, S. Tendulkar, Frank Worrell, Everton Weekes, Greg Chappell, Wasim Akram, Shane Warne, D. K. Lillee and A. Border marginally missed out. Please let me know how your list would look like. Cheers!
Got it Shivam,

IVA Richards certainly deserves a honorary mention. Although, I think the batsmen in my playing XI would just edge him out.
@ apoorv,

I think you need someone to keep wickets in your team. The batting order is too shuffled-up and I'm not sure Tresco and Flem would take too kindly to batting that low in the order. Considering that they are trained to open the innings. But, whatever floats your boat, dude :-)