Oh and you might have to upgrade your power supply. Maybe consider a 7750 instead.
Yes, your listed mobo has a PCI-E slot and the video card should be backwards compatible with the 1.0 specification. OEM recommends a 450W, you can make do with a little less depending on the quality of your power supply.
Infact I also was thinking about a 7750. But is it good enough for new games?
Depends on your resolution and what details you want. At 1920x1080 you will have to use low settings, for lower resolutions you should be fine.