I would say to sell that drive because if you look at how the cable is attached to the drive itself, it is permanent.
The newer, low profile LG models seem to have the newer low power mechanics to where they can run with just the single connection. You may see some of those within this thread, so read some or all of the other postings here.
Amazon.com does have a slew of external battery packs that have a mini-USB output port and some may even have a full size USB output port. Those can last long enough to power a DVD drive for about 3 or 4 movies. If you find one you like and only has a
mini-USB output port, get also a mini-USB to USB adapter cable which should only be a few dollars.
That is about the best you can do. Microsoft "CAN" send out a firmware update to repower the USB port to full 5 volts. They will not do that. I have never put a tester onto the USB port to see what the actual output is but must be around 2 volts at best.
That is just enough to power a USB pendrive or a printer/keyboard/mouse.
The only other alternative (and would eliminate the drive) is to convert movies into DivX format and go to http://www.videolan.org and download the desktop version of VLC. Those movies can be put onto micro-SD cards. DivX has the highest quality conversion
I have seen - but is not a complete conversion system of its own. You can go to http://www.divx.com and read more about it. You would need the full version to convert.