I need a software that will allow me to play
DTS-CD's on my PC.
I have a sound card with Coaxial Output (Sound Blaster Live).

Note:
I already can see movies that have DTS soundtrack encoded
into them, but cannot play actual DTS-CD's. 

Thanks

morgile,

In addition to the VLC a helpful sitemember showed you below in the
comments section, you can also try this...
Another solution that has proven to work is to use the 2 pin digital
output of your CD/DVD-ROM and connect it directly to the digital input
of your receiver/amp. This method will bypass your sound card all
together, sound cards might alter the stream and render the audio
useless so the bypass is preferable. Keep in mind that your sound card
should be capable of passing compliant Redbook audio. DTS 5.1 Audio
CDs might not work using the SPDIF digital out port if your sound card
up-samples the stream to 48kHz (SoundBlasters upsample). Unfortunately
it seems most complaint WDM drivers are not capable of this for the
moment but if your running Win9x then the VxD drivers should work.
However, the M-Audio 24/96 or Delta Dio are reported to play the DTS
audio over SPDIF perfectly.

Also, 
http://www.hydrogenaudio.org/index.php?showtopic=20711&
Has some ideas you might try.

Nenna-GA
Google Answers Researcher

Also,
"If you have WinDVD platinum, install hypercube's DTSWAV filter, then
you can use any directshow player (eg. windows media-player). Note
that to use the DTSWAV filter, you must rename the files from *.wav to
*.dtswav. If you have PowerDVD or any other DTS player, you first need
to use BeSplit/BeSliced in order to extract the 5.1DTS stream out of
the DTS-WAV."

Thank you!

There's some helpful information here:

http://www.dtstech.com/media/uploads/pdfs/dtsonpc.pdf

according to the dts faq, question 5, at
http://forum.doom9.org/showthread.php?s=&threadid=68300#post424069 the
only program available to play dts files is vlc, located at
http://www.videolan.org/vlc/

You are more than welcome!

Nenna-GA