Spatial heterodyne spectroscopy (SHS) is a new instrumental technique for interference spectroscopy which promises to extend into the FUV (1200-2000 A) spectral region the large throughput advantage at high spectral resolution usually associated with Fabry-Perot and Michelson interferometers. In addition, SHS systems are compact in size, can be field-widened to increase their throughput even further, have no moving parts, and can be built in all-reflection configurations. SHS appears to be well suited for high resolution, space-based spectroscopy of faint interstellar emission lines in the ultraviolet. This has significant implications for the study of the dynamics and distribution of hot gas within the Galactic disk and halo. For example, a field-widened SHS incorporating 5 x 5 cm gratings could obtain a radial velocity resolved (20 km/s), 3 deg angular resolution map of the high-latitude interstellar C IV 1550 emission in less than 1 year.