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Unfortunately it's not possible to start and stop music directly from the SRS-BTV5. It is only possible from the source of the music.
Alright... Although I don't think it is impossible to make this through software update on Xperia phones...
Well, another question. I tried to connect the speaker to my PC(Windows). It did connect, but it failed to find a driver for it. Would Sony release drivers of SRS-BTV5 for Windows so we can install it manually?
You need to download a driver from your Bluetooth stack manufacturer or alternative from Windows. Try to search for Windows update to see if you have any Bluetooth update available. Otherwise contact the manufacturer for the Bluetooth stack in your PC.