According to the analyses of the interferential multispectral images, a new compression algorithm based on distributed source coding is proposed. There are apparent shift features between the image series, the relative shift between two images is detected by the match algorithm at the encoder. Our algorithm estimates the rate of each bitplane with the estimated side information frame. Then our algorithm adopts a regions of interest (ROI) coding algorithm, in which the rate-distortion lifting procedure is carried out to allocate coding rate in reason according to the difference significance of image regions. The experimental results show that the proposed algorithm achieves improved spectral performance over the conventional algorithms. With different compression ratios, the algorithm satisfies the requirements of interference multi-spectral image compression system, and efficiently reduces the cost of computation and memory usage.