The invention is a system and method for sharing components of a single-path receiver or transmitter system multiple antennas. Specifically, according to one embodiment of the present invention, multiple antennas simultaneously share an analog-to-digital converter unit. The signal from one antenna is downconverted to a positive frequency band while the signal from another antenna is downconverted to a negative frequency band, allowing the signals to be processed by the analog-to-digital converter unit with minimal interference between signals and without the need for time-periodic switching. According to another embodiment of the present invention, multiple antennas simultaneously share a digital-to-analog converter unit.