Sorry George, I sure wish we had that feature, but it is not quite there yet.
When we do it (which is high on our list for Hoster 2.1), we will allow importing from an Audio CD as a .wma compressed file. Then we will allow adding a .wma or .kma (or .cdg) into the playlist. This will allow sequencing karaoke and audio songs to play, either auto or manual triggered depending on your selection.