X-ray tomography is increasingly being used for 4D spatio-temporal imaging of material samples at micron and finer scales. However, the temporal resolution of widely used 4D reconstruction methods is severely limited by the need to acquire a very large number of views for each reconstructed 3D volume. In this paper, we present a time interlaced model-based iterative reconstruction (TIMBIR) method which can significantly improve the temporal resolution of reconstructions. TIMBIR is a synergistic combination of two innovations. The first innovation, interlaced view sampling, is a novel approach to data acquisition which distributes the view angles more evenly in time. The second innovation is a 4D model based iterative reconstruction algorithm (MBIR) which can produce time resolved volumetric reconstructions of the sample from the interlaced views. Reconstructions of simulated data indicate that TIMBIR can improve the temporal resolution by an order of magnitude relative to existing approaches.