[Richard Crowley]

"Bikedrd" wrote ...
What I am wondering is: is there a way to use the single speaker wire
pair to transmit line-level RCA audio output from my satellite
receiver to an input on my amp?

Do you have digital audio output on the satellite receiver?
(Either an SPDIF optical port or an orange RCA jack.)
And a digital input on your receiver? You could make the
digital signal into a super-balanced feed and receive it with a
balanced digital receiver on the other end. It wouldn't require
shielding OR ground reference.

You would need to do some experimenting to discover the
impedance of the speaker wire, and likely hack together a
little 1-chip circuit at each end. But this is a common solution
and there are ample application diagrams for the circuit.

Is it possible to run both hots using the speaker wire and use the
home electrical system for ground? If so, would it sound like crap
because the wires would not be shielded?

No, absolutely not. Don't even think about doing this.