Frequency-domain multiplexing is one of the candidates for the readout of TES-based imaging microcalorimeter arrays for applications such as IXO. The readout system uses the TES as the modulating element, a bandpass LC filter to separate the signals in frequency space, and a customized SQUID with a low input inductance and high dynamic range as cryogenic amplifier. We will show the latest experimental progress on the development of this system. The paper concentrates on our first results on multiplexing 2 7 channels at bias frequencies below 5 MHz using discrete LC filters and baseband feedback electronics. In addition to that, the scalability of the system will be addressed.