Recently, $Gonzacute{a}lez-Audacute{i}cana$ et al. proposed the substitute wavelet intensity(SWI) method which provided a solution based on the intensity-hue-saturation(IHS) method for the fusing of panchromatic(PAN) and multispectral(MS) images. Although the spectral quality of the fused MS images is enhanced, this method is not efficient enough to quickly merge massive volumes of data from satellite. To overcome this problem, we introduce a new SWI method based on a fast IHS transform to implement efficiently as an alternative procedure. In addition, we show that the method is well applicable for fusing IKONOS PAN with MS images.