A disclosed electromagnetic (EM) interferometry system includes a first EM field sensor at a first position in a downhole environment. The system also includes a second EM field sensor at a second position in the downhole environment. The system also includes a processing unit that receives a first EM field measurement from the first EM field sensor and a second EM field measurement from the second EM field sensor. The processing unit derives a response of the first EM field sensor to a virtual EM field source at the second position by cross-correlating the first EM field measurement with the second EM field measurement. The processing unit also performs an inversion process based at least in part on the derived response to obtain a model of subsurface formation properties.