The structure formation of cogelled Pd/SiO2 catalysts is followed in situ at the nanometer scale using time-resolved small-angle X-ray scattering (SAXS). The SAXS patterns are analyzed in terms of a reaction-inducedspinodal decomposition that is responsible for the formation of the silica support and most likely for themetal dispersion as well. The results are discussed in the light of recent electron tomography characterizationsof the catalysts. The latter technique reveals regularity in the metal dispersion, the origin of which is likelyto be the very occurrence of a spinodal phase separation.