Chemical reactions and phase stabilities in the Si-Te system at high pressures were explored using in situ angle-dispersive synchrotron powder diffraction in a large-volume multianvil press together with density functional theory-based calculations. Cubic and rhombohedrally distorted clathrates, with the general formula Te8@(Si38Te8) and wide compositional range, preceded by a hexagonal phase with the composition Si0.14Te, are formed for different mixtures of Si and Te as starting materials. Si0.14Te, with the structural formula Te2(Te0.74Si0.26)3(Te0.94Si0.06)3, is the very first chalcogenide with the Mn5Si3-type structure. Silicon sesquitelluride α-Si2Te3 decomposes into a mixture of phases that includes the clathrate and hexagonal phases at high pressures and high temperatures. The higher the pressure, the lower the temperature for the two phases to occur. Regardless of the starting compositions, only the clathrate is quenched to atmospheric conditions, while the hexagonal phase amorphizes on decompression. The rhombohedral clathrates Te8@(Si38Te8) form on quenching of the cubic phases to ambient conditions. There is a high degree of interchangeability of Si and Te not only in the clathrates but also in the Mn5Si3-type structure. The theoretical calculations of enthalpies indicate that the reported decomposition of α-Si2Te3 is energetically favorable over its transformation to another polymorph of the A2X3 type at extreme conditions.