A power delivery method and system for powering a headset. A power signal is combined with an audio signal to form a composite signal that is communicated over a shared channel to the headset. The power signal is generated by modulating a carrier signal with a modulation signal. The modulation signal is derived from the amplitude of the audio signal so that the peak levels of the composite signal do not exceed the maximum allowable output of an audio I/O circuit driving the headset.