Currently, no.
There are a few apps (for windows) that let you independently control the volume for other apps. And assign different apps different audio outputs.
No idea if it works on ED, but worth a try, especially if there's a hotkey or something.
Meaning you could have the main game on your speakers/TV and the radio on earphones.
Not sure what the Apps are called though, CheVolume was one, but it wasn't very good, if I remember correctly.