In the field of rolling element bearing fault diagnosis, variable rotational speed and gear noise are main obstacles. Even though some effective algorithms have been proposed to solve the problems, their process is complicated and they may not work well without auxiliary equipment. So we proposed a method of faulty bearing feature extraction based on Instantaneous Dominant Meshing Multiply (IDMM) and Empirical Mode Decomposition (EMD). The new method mainly consists of three parts. Firstly, IDMM is extracted from time-frequency representation of original signal by peak searching algorithm, which can be used to substitute the bearing rotational frequency. Secondly, resampled signal is obtained by an IDMM-based resampling algorithm; then it is decomposed into a number of Intrinsic Mode Functions (IMFs) based on the EMD algorithm. Calculate kurtosis values of IMFs and an appropriate IMF with biggest kurtosis value is selected. Thirdly, the selected IMF is analyzed with envelope demodulation method which can describe the fault type of bearing. The effectiveness of the proposed method has been demonstrated by both simulated and experimental mixed signals which contain bearing and gear vibration signal.