SPDIF + Network Input Possible?

Can anyone tell me if there is a configuration possible that would allow SPDIF input as well as standard network audio streaming (to I2S DAC output)? I am looking to build a Rasberry Pi B+ with one of the I2S DACs, but would also like to be able to play the SPDIF output from my TV through the DAC to my HiFi utilizing the DAC’s built-in volume control, etc.