Rapid changes in the wireless systems require reconfigurability. So, an efficient and highly configurable hardware is feasible for such kind of systems. Reconfigurability in fixed hardware systems increases complexity. Thus, it does not cater the problem of frequent changes. A Software Defined Radio (SDR) is a platform which is viable in terms of reconfigurability to implement different types of communication system requirements with same sort of software and hardware such as Lab View and USRP. This paper presents the USRP based communication system, which implements the PSK modulation and demodulation. This system transmits the PSK modulated signal in FM band to examine the channel. Further in the paper, Bandwidth and Bit Error Rate (BER) performance are compared for two different types of PSK modulations based on multiple pulse shaping techniques.