A recent sounding rocket experiment in which the X-ray variations of Cir X-1 and Vela X-1 were investigated at time resolutions down to 1 msecond is described. Sporadic flaring activity in the X-ray sources was observed on time scales from 1 to several seconds, corresponding to intensity changes of about 20% in Cir X-1 and up to 100% in Vela X-1. Periodic, aperiodic, or quasi-periodic pulsations were not detected with time constants less than 1 second. The limits of rapid X-ray pulsations are shown to range from 3 to 15% for Cir X-1, Cyg X-1, Vela X-1, and 3U 1700-37.