No with default players.
Quote:
(For WMA audio, the only one mentioning surround sound)
Multichannel (5.1 and 7.1 surround) audio content is automatically mixed down to stereo.
And for Smooth Streaming:
http://www.iis.net/learn/media/smooth-streaming/smooth-streaming-client-readme
Not many details here, supported audio codec is AAC.
See also here:
http://www.iis.net/learn/media/smooth-streaming/smooth-streaming-primer#create_piff
Supported codecs are AAC and WMA/WMA Pro.