Cancel the order. The SBLive is notorious for not relaying exactly what is input into it, out of it. Meaning, a perfect CD signal (for example) goes into the SBLive, and even though it's not supposed to be processed, when it comes out of the digital out it's not the same signal.
The best card for doing this (compatibility-wise, price-wise, sound-wise) is the sb awe64 with digital out.