DacMagicPlus - HD audio over LAN question

I have a lot of Hi Res audio files on my PC (Win7), which is in another room of the house.
Currently, I use a DLNA server on the PC, stream via LAN over Powerline to my Sony BD player's ethernet input in the living room. The BD player's Component video cable goes to my AV receiver (so I can operate the DLNA and the SONY GUI on the TV). The BD player's audio goes via S/PDIF to my Dacmagic plus.
CHALLENGE: The BD player only accepts 16/44 LPCM files via LAN.

QUESTION: Is there a way to use a spare LAN port near the BD / DacMagic with a Cat5-to-USB converter and feed the audio stream directly to the DacMagic Plus USB input?

I could still navigate the music directories onscreen via the BD, but the files (including those with higher bit rates) would stream to the DacMagic Plus' USB input.

I'm hoping this question makes sense and that you can provide me with a definitive yes/no answer before I start buying hardware to test this out empirically :)

Thanks.