SB Audigy and home audio setup?

Hey, I was wondering if it is possible to connect the SB Audigy or 5.1 Live cards to a home audio setup for true 5.1 digital sound. I have a new Sony receiver that has toslink and coaxial digital inputs. I see many sound cards have a S/PDIF output. Could I plug this into the coaxial digital input and expect to hear anything? In fact, what is a S/PDIF output anyway. I appoligize in advance for my ineptitude but any advice would help.

Yes, you could. Might be easier to get the Live! Drive or the external breakout box though.