No, it doesn't have the APU (Audio Processing Unit).
And FWIW the Realtek ALC650 is a codec chip, not a sound 'processor'. It doesn't have hardware support for any sort of popular 3D sound APIs or other fancy/professional effects (unlike for example the Creative/EMU chips used on Creative cards, Crystal 46xx chips on the TBSC or Hercules Fortissimo 2/3 or the nForce/2 APU itself). That's why its performance is so much lower than the others in games (any sort of effect processing is done by the system's CPU). Ah and BTW it's in fact a 5.1 solution.