I’m not sure which sound cards are exhibiting this problem but at least it is in my system (onboard Realtek HD – Intel DH61BE motherboard running Windows 7 x64). It’s been annoying me since like forever and finally tonight I decided to actually solve the problem.
As it turns out, the solution is quite simple: disable PC Beep channel. A quick google showed this hit quite a bit of people and apparently this is the reason (or at least related).
On related note, apparently I’ve did this before and then completely forgotten. This is why I wrote it this time.