We present infrared absorption studies of solid hydrogen deuteride to pressures as high as 3.4 megabar in a diamond anvil cell and temperatures in the range 5 to 295 K. Above 198 GPa the sample transforms to a mixture of HD ,H2 and D2, interpreted as a process of dissociation and recombination. Three new phases-lines are observed, two of which differ remarkably from those of the high-pressure homonuclear species, but none are metallic. The time-dependent spectral changes are analyzed to determine the molecular concentrations as a function of time; the nucleon exchange achieves steady state concentrations in ~20 hours at ~200 GPa.