We introduce M3-AUDIODEC, an innovative neural spatial audio codec designed for efficient compression of multi-channel (binaural) speech in both single and multi-speaker scenarios, while retaining the spatial location information of each speaker. This model boasts versatility, allowing configuration and training tailored to a predetermined set of multi-channel, multi-speaker, and multi-spatial overlapping speech conditions. Key contributions are as follows: 1) Previous neural codecs are extended from single to multi-channel audios. 2) The ability of our proposed model to compress and decode for overlapping speech. 3) A groundbreaking architecture that compresses speech content and spatial cues separately, ensuring the preservation of each speaker's spatial context after decoding. 4) M3-AUDIODEC's proficiency in reducing the bandwidth for compressing two-channel speech by 48% when compared to individual binaural channel compression. Impressively, at a 12.6 kbps operation, it outperforms Opus at 24 kbps and AUDIODEC at 24 kbps by 37% and 52%, respectively. In our assessment, we employed speech enhancement and room acoustic metrics to ascertain the accuracy of clean speech and spatial cue estimates from M3-AUDIODEC. Audio demonstrations and source code are available online at https://github.com/anton-jeran/MULTI-AUDIODEC .
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