The component in the picture is called a Sound Card and it supports a full surround sound speaker system.
It fits into a spare expansion slot on your existing motherboard. They come in both PCI and PCIe versions.
Yes, that is the image of a sound card, but, my board has 8 channel support on board, but only 3 ports are given, so I am missing the mic when I use 5.1 sound system with it.
So is there any sort of port extender etc like what is available for firewire pins onboard?