if your kids like to read, print out single word in 'flash' card is a effective way. Then just like playing game with them. e.g. when u see this word from this book, you raise your hand and tell mom so to get 1 sticker/ 1 mark.
The more the children read, the more words they can recognize and remember. As a teacher, I do think that reading is of vital importance in the process of learning.
You may try to read and listen to online stories at http://www.storylineonline.net/
There are many interesting stories read by some screen actors / experienced story tellers. My son and his friends love the stories there.
Sometimes children are not interested in reading simply because the contents and/or the presentations are not entertaining enough!!
Once they are fascinated by the stories, they don't even want to stop!
I'm sure our parents are wise & will make good use of the online resources. Here are some good books for younger kids like Oxford Story Tree Series & Clifford the Big Red Dog. For primary school kids, you may consider Magic Tree House & Flat Stanley. They are all entertaining too. Indeed, reading for fun with your kids is a parent-child activity. Enjoy reading with your kids today!