Although there is much active research on software-defined radios (SDRs) with receive (RX) or transmit (TX) functionality, little work has been done on SDR transceivers supporting frequency division duplex (FDD). In this paper, we present a new circuit concept in which a distributed TX circuit cancels the transmitted signal at a reverse RX port through destructive interference while adding signal constructively at a forward TX port. We pair the distributed transmitter with a receiver-tracking PA degeneration technique to suppress the injected noise from TX circuits in the RX band. The system does not require off-chip filters or circulators, but still achieves both SDR flexibility and both FDD and time division duplex function. Measurements from the transceiver implemented in 65-nm CMOS show a frequency tuning range of 0.3-1.6 GHz with TX-RX isolation >23 dB and transmitted power up to 19 dBm.