We present a novel system that is capable of generating live dense volumetric reconstructions based on input from a micro aerial vehicle. The distributed reconstruction pipeline is based on state-of-the-art approaches to visual SLAM and variational depth map fusion, and is designed to exploit the individual capabilities of the system components. Results are visualized in real-time on a tablet interface, which gives the user the opportunity to interact. We demonstrate the performance of our approach by capturing several indoor and outdoor scenes on-the-fly and by evaluating our results with respect to a ground-truth model.