IP video delivery using flexible channel bonding

An IP video delivery system and method that allocates a first number of video streams for delivery on a number of channels that, provides a number of bonding groups, where each bonding group bonds at least one of the channels, and allocates a second number of video streams for delivery on the bonding groups. In one aspect, the method delivers the first video streams as unbonded on the channels. The bonding groups utilize bandwidth unused by the first video streams. In one aspect, the method utilizes bandwidth unused by the first or second video streams for high speed data. The method provides instantaneous load balancing to spread the first and second video streams across all available bandwidth in the channels, and delivers those video streams using a variable bit rate with no additional statistical multiplexing rate shaping to fit video streams into the channels.