Will I be able to replace my Xeon with the i7?

So I have been wanting to replace my current CPU (Xeon W3503 2.4Ghz) and replace it with something to improve my gaming. My PC right now is a HP Z400 workstation, the lower end model, and my Motherboard is a LGA1336/Socket B. So If I get a Intel Core i7 930 2.80 GHz Quad-Core Processor 8 MB Cache Socket LGA1366 will it work? I will be doing a BIOS update and my bus speed on the Mobo is up to 6.4GT/sec. Thank you!!!

Some addition links/info to help you out...

The CPU that I want: http://www.ebay.com/itm/Intel-Core-i7-930-2-80-GHz-Quad-Core-Processor-8-MB-Cache-Socket-LGA1366-CPU-/221380519374

My computer specs (Remember it's the lower end version ;) and I changed my GPU to a GTX 760 but I don't think that does anything):

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More about replace xeon
  1. Yes, the both use the same socket LGA 1366
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