// ...
$(document).ready(function() {
  $("#sortable").sortable({revert: true});
  $("#draggable").draggable({
    connectToSortable: "#sortable",
    helper: "clone",
    revert: "invalid"
  });
  $( "#sortable" ).bind( "sortreceive", function(event, ui) {
    //$(ui.item).html("hello");
  });
});
// ...

<div class="demo">
<ul>
  <li id="draggable" class="ui-state-highlight">Item 0</li>
</ul>
<ul id="sortable">
  <li class="ui-state-default">Item 1</li>
  <li class="ui-state-default">Item 2</li>
  <li class="ui-state-default">Item 3</li>
  <li class="ui-state-default">Item 4</li>
  <li class="ui-state-default">Item 5</li>
</ul>