Traditionally, real-time generation of spectro-temporally modulated noise has been performed on a linear amplitude scale, partially due to computational constraints. Experiments often require modulation that is sinusoidal on a logarithmic amplitude scale as a result of the many perceptual and physiological measures which scale linearly with exponential changes in the signal magnitude. A method is presented for computing exponential spectro-temporal modulation, showing that it can be expressed analytically as a sum over linearly offset sidebands with component amplitudes equal to the values of the modified Bessel function of the first kind. This approach greatly improves the efficiency and precision of stimulus generation over current methods, facilitating real-time generation for a broad range of carrier and envelope signals.