Photometric observations of SX Dra were carried out to determine the properties of the components and pulsational characteristics of the more massive pulsational component. Physical parameters of the component stars were obtained by modeling B and V light curves using the Wilson-Devinney code. Results indicate that SX Dra is a semi-detached system with the secondary component filling its Roche lobe. The O-C data showed parabolic and sinusoidal variation. Cyclic variation in the O-C diagram could be the result of the possible magnetic activity of the secondary component instead of the third body. The secular increase in the orbital period of the system can be interpreted as being the result of mass transfer from the secondary component to the primary one at a rate of 2.1 x 10(-7) M-circle dot yr(-1). Results of a time-series analysis performed after removing binary effects indicated that the hot component shows delta Scuti light variations with pulsational periods of 63 and 73 minutes. Spherical harmonic degrees (l) were determined to be 3 for the first frequency and 1-2 for the second frequency.