A magnetoresistive memory device 20 includes dies 24 and 38, each of which contains magnetically sensitive material 50. A method 64 of packaging the magnetoresistive memory device 20 entails coupling the die 24 to a substrate 22, forming interconnections 52 between bonding pads 32 on the die 24 to connection sites 54 spaced apart from the die 24. A magnetic shield 36 is bonded to a top surface 30 of the die 24 following formation of the interconnections 52. The die 38 is attached to the magnetic shield 36, interconnections 56 are formed between bonding pads 44 on the die 38 to connection sites 58 spaced apart from the die 38, and a magnetic shield 48 is adhered to the die 38 following formation of the interconnections 56.