I have previously had both the 32 bit and 64 bit versions of Sonar loaded on my computer without a problem. You can only run one at a time. Make sure whichever you load first, you change the shortcut name to Sonar- 32bit or Sonar 64 bit or it won't load the second version's shortcut.
That said, Reason runs in 64 bit now - I think anything after Reason 6. You can load both the 32 and 64 bit versions of it as well. But frankly? If you only have 4 gigs of RAM? You are not getting much use out of the 64 bit version.
I think it is Beatscape that only runs in the 32 bit version. I kind of missed it when they decided not to upgrade it.