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A technique for characterizing the cyclically time varying statistical properties and spectrum of power supply noise using only two on-chip samplers is presented. The samplers utilize a voltage-controlled oscillator to perform high-resolution analog-to-digital conversion with minimal hardware. The measurement system is implemented in a 0.13 μm process as part of a high-speed link transceiver. Measurement results showing the cyclostationary behavior of power supply noise are presented.