HD FM, HD MW and HD TV all use QAM (Quadrature Amplitude Modulation) to generate their HD signals. It would be impossible to use frequency modulation to do this. The spectrum needed to contain the significant sidebands required to FM a digital scheme would be totally impractable. You could use the same PLL to demodulate both the "FM" and "AM" signals and then send them to DSP circuitry optimized for the properties of each "band".
QAM is so clean that you have channel 31 and 32 (both full power signals in Boston) broadcasting from the same tower! Ditto channels 12 and 13 in Providence. The "HD carriers" everyone complains about exist solely to cancel out any adverse effect HD may cause to it's own HOST analog channel. True IBOC emits no carrier. Take an analog TV and tune it any HDTV channel and tell me how much "noise" you see generated. Same deal for FM and MW HD when their respective analogs are finally sunset. Kinda blows a little hole in those "adjacent interference" theories true IBOC supposedly engenders, n'est ce pas?
-