Get list of bundles for entity programmatically

function get_entity_bundle_list($entity_type) {
  $entity_info = entity_get_info($entity_type);
  foreach($entity_info['bundles'] as $bundle_system_name => $bundle) {
    $entity_bundles[$bundle_system_name] = $bundle['label'];
  }
  return $entity_bundles;
}