Yes, that is the Squeezebox that I have. (Awesome sound quality, by the way, if you rip your CDs to FLAC or download stuff from places like HDTracks.com.)

The Red Dragon M-500 can be ordered with RCA input instead of XLR. They only have pictures of the XLR version on their web site.

Thanks for the tip on the Y-connector. I am now researching the interwebs for RCA Y-connectors ....

Axiom M80s + QS8s + VP180 <-- Pioneer VSX-1120-K <-- Squeezebox Touch / XBox360 / Oppo BDP-93