The SPIHT (set partitioning in hierarchical trees) algorithm by Said and Pearlman is known to have produced some of the best results in still image coding. It is a fully embeded wavelet coding algorithm with precise fate control and low complexity. In this paper is presented an application of the SPIHT algorithm to video sequences, using three-dimensional (3D) wavelet decompositions and 3D spatio-temporal dependence trees. A full 3D-SPIHT encoder/decoder is implemented in software and is compared against MPEG-2 in parallel simulations. Although there is no motion estimation or compensation in 3D SPIHT, it performs measurably and visually better than MPEG-2, which employs complicated means of motion estimation and compensation.