Karaoke and Cubase 5

Good day, all. I’m a newbie here, so please be kind…and I’d like to thank you all in advance for your help!
I use Cubase 5 (Windows 7, 64-bit) at my home studio.

I’m wondering if there’s a way for me to use CDG or MP3+G files in Cubase 5? I’m putting together a little vocal party for my kid and their friends and, while I can obviously import an MP3 into Cubase as I’ve done a zillion times, I’m trying to figure out a way to import a karaoke file (i.e CDG and/or MP3+G) so I can both use the music track for the kids to record vocals to while simultaneously displaying the lyrics on a monitor for them to read/sing to.

I’m guessing there’s no easy way to do this without use of a karaoke machine (I have tons of Karaoke CDs)…if I were to use a Karaoke machine to do this, what is the best way to set it up so I’m able to accomplish the whole laying down of vox while having the kids read the lyrics off of a monitor. And, to be clear, I really don’t want to buy a karaoke machine that has recording capabilities as past experience has shown this to be poor quality (plus, I love recording in Cubase so there’s that!).

Thanks again for your help/advice/suggestion, and have a wonderful day.

AJ

I guess you could just have cubase record in the background, but you will have to cut up and allign the recording to all the songs afterwards.