I don't recall hearing about anyone streaming WAV with Icecast. Apart from the waste of bandwidth, the limited metadata support in WAV is non-standard. You could use FLAC and turn it back to WAV at the other end:
For streaming uncompressed PCM data over reliable networks to small numbers of devices, you could look at Netjack, but that's not intended for broadcast:
Hi Daniel. I am not using this for broadcast, but for in store musac machines. Using WAV or Local sound card would drop my cpu load by 30% - no encoding time out for Liquid Soap.