Not sure if this is old news or not, but just adding my two cents in here. If you are playing RAW, then taking a level in EK would give the Bloodline SPELLS, as they are added to the list of spells known and spells per day. You can still only take your bloodline's spells known as well as the spells allotted to the arcane class of choice, in this case Sorc/Wiz spell list.
The EK would NOT however gain new Bloodline POWERS. But also on that note, whatever powers he DID have would still increase in strength as if he were still a Sorcerer, example of the Elemental bloodline's Elemental Ray or the Draconic bloodline's Draconic Resistances.
