i've done that myself. ran the video by hdmi to the tv and then the sound via the headphone jack to my sound set-up. worked fine but you will need the right connection on your theater set-up or an adapter to .
also possible that you can just run it to the tv and use the audio out most tv's have to get the audio to the stereo. that way anything on the tv can send the sound to the stereo with only 1 cable run.