"OK here is the thing I have SV and I want to make it read MKV files because I'm going to make a really nice video... Is there a way for me to make it read MKV? If so please an answer would be greatly appreciated"
You can of course you can play MKV videos using classic player with Community Codec Pack. But you can't make it readabe with Sony Vegas. Because MKV is a container file format that can hold an unlimited number of video, audio, picture, or subtitle tracks in one file and Sony Vegas doesn't accept it natively.
To import MKV videos to Sony Vegas for editing, you need to first convert your MKV files to Sony Vegas compatible formats, let's say AVI, WMV, MPG etc. Then, a Video Converter will be necessary for encoding MKV movies to proper Sony Vegas format.
As far as I know, there is one Video Converter that can pefect solve the problem, it is designed to be a good MKV to Sony Vegas Converter to easy and fast transcode MKV files to AVI, WMV, MPG for editing in Sony Vegas (all versions included, like 08/09/10/11) with best conversion speed and best output quality.
Easy steps to convert MKV files to Sony Vegas
Step 1: Load MKV files
Click “Add Video” to load your as many MKV files as you can into MKV Sony Vegas Converter
Step 2:Select output format and directory
Select “Format” pull down list to select AVI, WMV or MPG as output format. And then, click the small triangle to choose a path to save your converted files
Step 3: Convert MKV videos
Click “Convert” to decode MKV files to AVI, WMV,MPG for editing in Sony Vegas
Aftere converting MKV to AVI, WMV or MPG, you can free import MKV to Sony Vegas for free editing.