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This paper considers the high-rate performance of source coding for noisy discrete symmetric channels with random index assignment (IA). Accurate analytical models are developed to characterize the expected distortion performance of vector quantization (VQ) for a large class of distortion measures. It is shown that when the point density is continuous, the distortion can be approximated as the sum of the source quantization distortion and the channel-error induced distortion. Expressions are also derived for the continuous point density that minimizes the expected distortion. Next, for the case of mean squared error distortion, a more accurate analytical model for the distortion is derived by allowing the point density to have a singular component. The extent of the singularity is also characterized. These results provide analytical models for the expected distortion performance of both conventional VQ as well as for channel-optimized VQ. As a practical example, compression of the linear predictive coding parameters in the wideband speech spectrum is considered, with the log spectral distortion as performance metric. The theory is able to correctly predict the channel error rate that is permissible for operation at a particular level of distortion.