The reliable and routine measurement of unambiguous VLBI phase delay would offer geodetic VLBI programs an increase in delay measurement precision of approximately an order of magnitude; from several tens of picoseconds to roughly one picosecond. It should be possible, with sufficient signal to noise ratio, to achieve this objective. One of the principal ``science drivers'' which is likely to result in significant increases in the signal to noise ratio of geodetic VLBI measurments is coming from the space VLBI community and their requirement for very wide bandwidth VLBI systems. The use of ``orbiting radio observatories'' to conduct VLBI observations on Earth-to-Space and Space-to-Space baselines is the only means by which the fundamental limitations on the angular resolution of images afforded by the technique of VLBI which result from the finite physical dimensions of the Earth and the opacity of the atmosphere at millimeter and sub-millimeter wavelengths may be circumvented. For continuum observations, the loss of correlated flux on long baselines as well as other technical considerations generate a requirement for very wide bandwidth VLBI systems to support future Space VLBI missions. This report presents a brief description of the 1024 - 2048 Mbit/sec (1 - 2 Gbit/sec) ``S3'' VLBI system under development at the Space Geodynamics Laboratory (SGL) of the Center for Research in Earth and Space Technology (CRESTech).