  We consider the large N spectrum of the quantum mechanical hamiltonian of two
hermitean matrices coupled via a Yang-Mills interaction. In a framework where
one of the matrices is treated exactly and the other is treated as a creation
operator impurity, the difference equation associated with the Yang-Mills
interaction is derived and solved exactly for two impurities. In this case, the
full string tension corrected spectrum depends on two momenta. For a specific
value of one of these momenta, the spectrum has the same structure as that of
giant magnon bound states. States with general number of impurities are also
discussed.
