A parametric loudspeaker utilizes nonlinearity of a medium and is known as a super-directivity loudspeaker. The parametric loudspeaker is one of the prominent applications of nonlinear ultrasonics. So far, the applications have been limited monaural reproduction sound system for public address in museum, station and street etc. In this paper, we discussed characteristics of stereo reproduction with two parametric loudspeakers by comparing with those with two ordinary dynamic loudspeakers. In subjective tests, three typical listening positions were selected to investigate the possibility of correct sound localization in a wide listening area. The binaural information was ILD (Interaural Level Difference) or ITD (Interaural Time Delay). The parametric loudspeaker was an equilateral hexagon. The inner and outer diameters were 99 and 112 mm, respectively. Signals were 500 Hz, 1 kHz, 2 kHz and 4 kHz pure tones and pink noise. Three young males listened to test signals 10 times in each listening condition. Subjective test results showed that listeners at the three typical listening positions perceived correct sound localization of all signals using the parametric loudspeakers. It was almost similar to those using the ordinary dynamic loudspeakers, however, except for the case of sinusoidal waves with ITD. It was determined the parametric loudspeaker could exclude the contradiction between the binaural information ILD and ITD that occurred in stereo reproduction with ordinary dynamic loudspeakers because the super directivity of parametric loudspeaker suppressed the cross talk components.