In an embodiment, a compression unit is provided which may perform compression of a pixel stream. Similarly, a decompression unit may be provided which may decompress the compressed pixel stream. The compression and decompression units may include a streaming wavelet transform, which may perform the wavelet transform through a pipeline of wavelet operations. Each section of the pipeline may perform a pass of the wavelet transform on the pixel stream, and the section may provide input to another section of the pipeline that performs a next pass of the wavelet transform. The transform may thus be performed on the fly as the pixels are received.