Theory and simulations of a novel hyperspectral imaging polarimeter for remote sensing are presented. The spectropolarimeter is formed by cascading two laser servocontrol modified wave plates (MWP) and a polarization interference imaging spectrometer (PIIS). Using the phase modulation of the MWPs, this setup enables PIIS, originally developed by C. Zhang, to be extended for full polarization detection without dividing the interference fringes into channels as that in Oka's original channeled polarimeter. In this way, we can get the polarization information with higher spectral resolution. Besides, the data can be acquired with simpler operation. Aside from this feature, the configuration retains the advantages of both elements: the high precision phase modulation of the MWPs and the high spectral, spatial resolution, and higher throughput of the PIIS. A design example with spectral resolution 100 cm-1 and range 0.4-1.0 µm is given.