Blu Ray and external DAC's

Hello I was wondering if a ext DAC (for Redbook) would work on a Blu Ray player? My Blu Ray Player won't output Dolby Stereo and I was curious if adding a DAC would remedy this?

Obviously, my last post should have read:
"...It seems curious that your Bluray player will NOT output Dolby Digital Stereo

The problem I am experiencing is the player can't be set to output stereo instead it outputs what the DVD or Blu Ray comes with. Most of the time its Dolby 5.1 and I only have 2 ch no HT. So its not the best for watching movies so I thought maybe a DAC might work?

As far as I'm aware all BR players can be set to downmix the MCH (incl. dolby digital) tracks to stereo. I would be very surprised if the Pioneer won't. Check the manual.