Home theater cable/hook up question

I'm sure someone here can help me out.

I've got an HD cable box and blu-ray player hooked up via HDMI. I want to hook both up to my stereo with 5.1 via the optical connection. Can I just hook both up to the TV via HDMI then run 1 optic from the TV to the stereo? Or do both the box and the blu-ray player need to be hooked directly to the stereo each with it's own optic cable?

Thanks!