A custom view to do that:
public class FadeView extends FrameLayout {
    private long mFadeDelay = 1000;
    private ImageView mFirst;
    private ImageView mSecond;
    private boolean mFirstShowing;
    public FadeView(Context context) {
        super(context);
        init(context);
    }
    public FadeView(Context context, AttributeSet attrs) {
        super(context, attrs);
        init(context);
    }
    public FadeView(Context context, AttributeSet attrs, int defStyle) {
        super(context, attrs, defStyle);
        init(context);
    }
    private void init(Context c){
        mFirst = new ImageView(c);
        mSecond = new ImageView(c);
        mFirst.setAlpha(1.0f);
        mSecond.setAlpha(0.0f);
        mFirstShowing = true;
        addView(mFirst);
        addView(mSecond);
    }
    public void setFadeDelay(long fadeDelay) {
        mFadeDelay = fadeDelay;
    }
    public void ShowImage(Drawable d){
        if(mFirstShowing){
            mSecond.setImageDrawable(d);
            mSecond.animate().alpha(1.0f).setDuration(mFadeDelay);
            mFirst.animate().alpha(0.0f).setDuration(mFadeDelay);
        }else {
            mFirst.setImageDrawable(d);
            mSecond.animate().alpha(0.0f).setDuration(mFadeDelay);
            mFirst.animate().alpha(1.0f).setDuration(mFadeDelay);
        }
        mFirstShowing = !mFirstShowing;
    }
}
Usage:
public class test extends Activity {
    @Override
    protected void onCreate(Bundle savedInstanceState) {
        super.onCreate(savedInstanceState);
        final FadeView fw = new FadeView(this);
        setContentView(fw);
        fw.setOnClickListener(new View.OnClickListener() {
            Drawable d1 = getResources().getDrawable(android.R.drawable.ic_dialog_alert);
            Drawable d2 = getResources().getDrawable(android.R.drawable.ic_dialog_info);
            boolean flag;
            @Override
            public void onClick(View view) {
                if(flag){
                    fw.ShowImage(d1);
                }else {
                    fw.ShowImage(d2);
                }
                flag = !flag;
            }
        });
    }
}