Serial Peripheral Interface is a synchronous protocol that allows serial communication between a master and a slave device. The purpose of this paper is to provide a full description of a high speed SPI Master/Slave implementation. The designs are based on Motorola's SPI Block Guide V03.06. This paper discusses design approaches that can offer prospective ways of controlling SPI-bus, incorporating the flexibility of handling two slaves at a time. Starting from the initial specifications till the final physical design, the design phases are systematically elaborated. The whole design is implemented in Verilog 2001, and mapped onto Xilinx's Virtex 5 FPGA devices.