Yea but i recommend you to buy a 600W if u can afford tht is.sometimes if u OC ur card 500W wont be enough.Try to buy a frm a good manufacturer like Corsair,Thermaltake..etc.and dont buy a coolermaster PSU.
the cx500 is an excellent budget choice, and it will be enough to even overclock the CPU and GPU.
That power supply is good enough for that build. What is your budget and where are you located? Might be able to find you a better, higher quality psu within the price range.