Thanks visakh16...but in all these cases it seems we need to manually import data into sql server table. I was looking for something if user updates value in excel file, it should automatically reflect in sql server table as in the case of access-excel linked tables...
Now I want to import .xlsx(excel 2007) in sql server 2005 using openrowset method? As far as I learned from the above link, it seems in sql server 2005, we can only import .xls.