1. A system for sharing wavelet domain components among encoded signals, the system operable to: receive a set of signals decomposed and encoded according to a wavelet transform, the decomposed and encoded signals each comprising a set of wavelet coefficients at each level of the decomposition of the encoded signal; using a vector quantization technique, identify one or more sets of wavelet coefficients that are sharable among two or more of the decomposed and encoded signals at a particular level of decomposition; and store the sets of wavelet coefficients of the decomposed and encoded signals, each identified sharable set of wavelet coefficients at a particular level of decomposition being stored only once and shared by two or more of the decomposed and encoded signals.