Hi Chris,
Vickie is right: sleeplessness is a common side effect of Effexor. If you can't sleep more than 3 hours at a time though, it's possible you're dosage is too high. You might want to discuss that with your doctor. While I'm NOT a doctor, I have been taking Effexor for 6 years now. I've struggled with Insomnia too but I have no idea whether my Insomnia is a result of taking Effexor or just existing anxiety/depression. Regardless, I've found it very helpful to take 50mg of Trazadone to help me sleep.
Hope you feel better soon!