  We show that radio-to-TeV properties of the binary system LSI +61 303 can be
explained by interaction of the compact object (a young pulsar) with the
inhomogeneities of the wind from companion Be star. We develop a model scenario
of "compactified" pulsar wind nebula formed in result of such interaction. To
test the model assumptions about geometry of the system we re-analyze the
available X-ray observations to study in more details the variations of the
hydrogen column density on long (orbital) and short (several kilosecond) time
scales.
