In this paper, we propose a two-way relaying scheme using digital network coding in an underlay cognitive radio network. In the proposed scheme, the transmit antenna selection and selection techniques are combined using a primary transmitter and a primary receiver, respectively. In the secondary network, two source nodes that cannot directly communicate attempt to exchange their data with each other. As a result, the relaying technique using partial relay selection is applied to assist the data exchange. Particularly, at the first time slot, the selected secondary relay applies an interference cancellation technique to decode the data received from the secondary sources. Then, the selected relay uses digital network coding to send XOR-ed data to the sources at the second time slot. We first derive the outage probability of the primary network over block the Rayleigh fading channel. Then, the transmit power of the secondary transmitters including the source and relay nodes are calculated to guarantee the quality of service of the primary network. Finally, the exact closed-form formulas of the outage probability of the secondary sources over the block Rayleigh fading channel are derived, and then verified by computer simulations using the Monte Carlo method.