Aspects of a method and system for enhanced sound quality for stereo audio are provided. In this regard, levels of audio signals received via an FM radio channel may be controlled based on a signal-to-noise ratio (SNR) of the RF channel. The SNR of the FM radio channel may be determined based on signal strength in an unused portion of the FM radio channel. The recovered audio signals may comprise an FM multiplex signal, and an unused portion of the FM radio channel may be a guard band adjacent to a carrier of the FM multiplex signal. A level of one or both of a mono component and a stereo component of an FM multiplex signal may be controlled based on the SNR.