Drupal 7 version
The 7.x-1.x branch of this module should work with both 7.x-1.x and 7.x-2.x branches of Media.
There is no upgrade path for this from D6 to D7.
Drupal 6 version
This module is the code originally posted at #520624: add a link to Sound Cloud provider for Embedded Audio Field.
The 6.x-1.x branch of this module works with both the 6.x-1.x and 6.x-2.x branches of Emfield.
We're looking for a co-maintainer to specifically handle the D6 branch. If you want to offer to co-maintain it, please file an issue here. Until then the D6 version of this module will only be 'minimally maintained' (ie, patches will be reviewed and committed).
Many thanks to Torchbox for sponsoring the maintenance of Media Soundcloud 7.x.