MP3 Audio only to Receiver?

I have just started playing around with MP3s and would like to listen to them through my receiver. I was all set to go buy a long RCA audio cable and appropriate adapters to hook into my sound card (Soundblaster Live Value), then wondered about what audio I really want through my stereo vs. having MP3 audio in my computer speakers as well.

I would like to sit here and use my computer and have all the normal sounds (beeps, etc.) come through my PC speakers while having MP3 audio piped to my stereo receiver (and not come out my PC). How would one go about doing it? Is this possible, or am I way off base here.