what you can do is put that cable under the gap of the audigy2... like between the pci slot and the back of the case, run it under there... i have to do the same with my msi led thing...
also, you can sleeve that cable fairly easy, pull the wires apart like tearing thin strips of paper, leave maybe 2 inches on one end (so they don't separate while you mod it), pop the connector of one end, put a heatshrink on, then sleeving, then another heatshrink, pop connector back on, shrink, and hay presto!
edit: heh, yeah, everyone's beating me these days... especially Nerm... he must be overclocking HIMSELF in that freezer box of a computer room!