In this study, creation of a silicon aluminide coating on IN738LC nickel-based superalloy has been investigated, using co-deposition process. Thermochemical calculations indicated the possibility of obtaining a silicon aluminide with NH4Cl activated pack powder at 900°C, in order to achieve coating with desirable structures. Two powder mixtures with nominal compositions of 7Si-14Al-(1-3) NH4Cl-Al2O3 (wt. %) and 16Si-4Al-(1-3) NH4Cl-Al2O3 (4 and 0.5 Si/Al ratios, respectively) were used. According to the results, both coatings showed multi-layered structures containing AlNi2Si as dominant phase. In coating created by pack powder with Si/Al ratio of 0.5, a porous and brittle layer of NiSi was formed on the surface which deteriorated the mechanical properties of coating to some extent. It was found that inward diffusion of Al was dominant at the first stage, while afterward, inward diffusion of Si led to conversion of NiAl phase to AlNi2Si and, finally, to NiSi phase. Eventually, the sample coated by Si/Al=4, showed superior microstructural characteristics, containing desirable AlNi2Si phase without undesirable brittle NiSi phase.