stand alone DVD to spdif-in w/5.1

[dreadycarpenter]

so I just got this stand alone DVD player and I want to use my SbLive 5.1 to do the decoding. so i spliced a female end of a rca cable to the spdif-in on my soundcard(where a CD/DVD drive would be), then hooked my DVD player's digital coaxial out.
when I set my stand alone DVD player to spdif/pcm, i recieve stereo
when I set it to spdif/raw i get nothing
so I want to recieve 5.1 using my soundcard to do the decoding

also I have SbLive IR drive that i have yet to aquire the needed wires, but anyway if and when i get it connected can i use the spdif-in or the optical-in to recieve 5.1

thanks dreadycarpenter