I've realized this a while ago, when hans has relased the first linux-version of ST with Jack-support, with GNURadio and an Ettus USRP-B100. My signal-path (which was composed in a shell-script) was:
mplayer -> jack -> stereotool l/r-in -> stereotool-mpx-out -> jack -> vlc media player -> stdout -> gnuradio-stdin-source -> usrp-sink -> ettus-b100
You have to built a GNURadio-Sketch with at least a simple level-adjustment to scale the mpx-output of ST to +-75 kHz deviation (for that, you need a modulation monitor). Set the samplerate in Jack and VLC to at least 128 kHz to get a proper MPX-signal to the USRP.
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