Lake Tahoe Balloons. Take a hot-air balloon flight over the lake from mid-May through mid-October with this experienced company. The excursion begins shortly after sunrise and takes four hours total, including a traditional champagne toast at journey's end. Tahoe Keys Marina, at end of Venice Dr. East, South Lake Tahoe, CA, 96151. 530/544–1221 or 800/872–9294. From $295.

MS Dixie II. The 520-passenger MS Dixie II, a stern-wheeler, sails year-round from Zephyr Cove to Emerald Bay on sightseeing and dinner cruises. Zephyr Cove Marina, 760 U.S. Hwy. 50, near Church St., Zephyr Cove, NV, 89448. 775/589–4906 or 800/238–2463. From $51.

Sierra Cloud. From May to September, the Sierra Cloud, a 41-passenger catamaran, departs from the Hyatt Regency beach at Incline Village and cruises the north and east shore areas. Hyatt Regency Lake Tahoe, 111 Country Club Dr., Incline Village, CA, 89451. 775/831–4386. From $65.

Tahoe Queen. The 312-passenger Tahoe Queen, a partially glass-bottomed paddle wheeler, departs from South Lake Tahoe daily for 2½-hour sightseeing cruises year-round by reservation and 3-hour dinner-dance cruises daily from late spring to early fall (weekly the rest of the year). Fares range from $51 to $83. Ski Run Marina, 900 Ski Run Blvd., off U.S. 50, South Lake Tahoe, CA, 96150. 530/543–6191 or 800/238–2463. From $51.

Tahoe Boat Cruises. From April to October, this company offers various boating experiences. The Woodwind II, a 50-passenger catamaran, sails from Zephyr Cove on regular and champagne cruises. The company's Safari Rose, an 80-foot-long wooden motor yacht, departs from Tahoe Keys Marina for half-day cruises around the lake. From late May to mid-October, their classic wooden boat, the Tahoe, takes passengers on an east shore cruise with a walking tour of Thunderbird Lodge historic site. Zephyr Cove Resort, 760 U.S. Hwy. 50, near Church St., Zephyr Cove, CA, 89448. 775/588–1881 or 888/867–6394. From $34.