As the supergiant star expands, in its ``death throws'', its outer atmosphere extends far enough it is pulled away from the star to instead revolve around the compact object (black hole or neutron star). This creates a large extensive disk of material which slowly falls onto the compact object surface.
X-ray binaries
Material falling onto the compact object heats up to X-ray temperatures, and is seen in X-ray Bursts from the system. The material falling on to the compact object adds angular momentum spinning it "up" (makes the pulsar look young again!).
Click Here for a short movie about X-ray binaries.
Binary Pulsars
The most famous binary radio pulsar is the
Hulse-Taylor
pulsar, PSR 1913+16, which has another neutron star
as its companion. The two neutron stars are so close
that their orbital period is less than eight hours. No matter streams
between them; they interact only by their
mutual gravitational attraction.
The orbital period is known to be reducing by 67 nanoseconds (less than one ten-millionth of a second) each orbit. The reducing orbital period represents a loss of energy, which can only be accounted for by gravitational radiation. Although gravitational radiation itself has never been observed directly, the observations of PSR 1913+16 have provided good proof of its existence.