A system and method for sending multiple data signals over a serial link comprises an embedding unit and a removing unit coupled by a serial line. The embedding unit preferably receives a plurality of data streams, encodes the data streams and then merges the encoded data into a serial stream that is output across a serial line to the removing unit. The removing unit receives a serial stream of data, decodes the serial stream, and then separates the decoded serial stream into separate streams thereby reconstructing the streams input to the embedding unit. The encoding and transmission by the embedding unit and the receipt and decoding by the removing unit are completely transparent, the signals output by the removing unit are identical in timing and data content to the signals input to the embedding unit. The present invention also includes a method for transmitting a plurality of data streams over a signal line, and a method for generating a plurality of data streams from a serial sequence.