Almost definitely; it just about meets the requirements for such a rig (it should be over the requirements), and it's not exactly a high-quality PSU.
This is a good power supply, might be a little out of your budget though. I would have recommended the 550W below it but in Newegg's infinite wisdom the 650W is cheaper.
Newegg.com - CORSAIR CMPSU-650TX 650W ATX12V / EPS12V SLI Ready CrossFire Ready 80 PLUS Certified Active PFC Compatible with Core i7 Power Supply - Power Supplies
It's $80 with MIR, free shipping.
That will power your planned rig easily and leave room for future upgrades, including crossfire provided you get a motherboard which supports it.