http://uniaud.netlabs.org/
warning - this update no longer produces sound on my SB Live card. This is based on the GPL ALSA Project from Linux and provides drivers for various sound chipsets.
http://os2.kiev.ua/en/uniaud.cards.php
You can find the latest version on NetLabs (ftp://ftp.netlabs.org/pub/uniaud/), as well as a list of open bugs (http://svn.netlabs.org/uniaud/report/1).
Source: OS/2 Warp News and Rumors