A method and system is provided for acquiring seismic data while conducting drill string operations in a wellbore. A seismic receiver is conveyed in a drill string to a location of interest; coded seismic signals are generated by a seismic source near a surface location; the coded seismic signals are detected with at least one sensor in the seismic receiver at least one location of interest in the wellbore as the drill string is operated in the wellbore; an arrival time of the detected seismic signal is computed in the seismic receiver; and the detected seismic signals or computed arrival times are stored in the seismic receiver or transferred to the surface.