The term Software radio receiver (SRR) comes in the class of re-programmable or reconfigurable radios which was introduced by Joe Mitola. SRR or Software defined Radio (SDR) is a radio that offered flexibility by using software with the static hardware. Hence, the same piece of hardware can be used to carry out different tasks at different time. This paper highlights the essential steps required for the development of SRR design for communication system. Performance of SRR can be best examined by proper selection of the different components used in SRR.