Add up how long you are delaying, too. The total will be more than 2 hours. Your LED will start blink 10 seconds later, every iteration.
Not really critical in this case, but it's worth keeping in mind.
Also, if you want to change the length of time between iterations, or how long the LED is on and off while blinking, or how long the LED blinks, the magic numbers you have will make that harder.
The constants I defined can be easily changed.