The effect of modulation of high frequency ship noise by propeller rotation frequencies is well known. This modulation is observed with the Detection of Envelope Modulation on Noise (DEMON) algorithm. Analysis of the DEMON spectrum allows the revolutions per minute and number of blades of the propeller to be determined. This work shows that the high frequency noise of a small boat can also be modulated by engine frequencies. Prior studies have not reported high frequency noise amplitude modulated at engine frequencies. This modulation is likely produced by bubbles from the engine exhaust system.