No, The Intel 5520 series chipsets support the Intel Xeon processor E5 v2.
HP lists:
Quad-Core Intel Xeon Processor 5500 Series with Intel 64 Architecture :
•Intel Xeon X5570, 2.93 GHz, 8 MB cache, 1333 MHz Memory, 6.4 GT/s QPI, 95W
•Intel Xeon X5560, 2.80 GHz, 8 MB cache, 1333 MHz Memory, 6.4 GT/s QPI, 95W
•Intel Xeon X5550, 2.66 GHz, 8 MB cache, 1333 MHz Memory, 6.4 GT/s QPI, 95W
•Intel Xeon E5540, 2.53 GHz, 8 MB cache, 1066 MHz Memory, 5.86 GT/s QPI, 80W
•Intel Xeon E5530, 2.40 GHz, 8 MB cache, 1066 MHz Memory, 5.86 GT/s QPI, 80W
•Intel Xeon E5520, 2.26 GHz, 8 MB cache, 1066 MHz Memory, 5.86 GT/s QPI, 80W
•Intel Xeon E5506, 2.13 GHz, 4 MB cache, 800 MHz Memory, 4.8 GT/s QPI, 80W
•Intel Xeon E5504, 2.00 GHz, 4 MB cache, 800 MHz Memory, 4.8 GT/s QPI, 80W
Quad-Core Intel Xeon Processor 5500 Series with Intel 64 Architecture – High Power
•Intel Xeon W5580, 3.20 GHz, 8MB L3, 1333 MHz Memory, 130W
Intel 5520 CPU compatibility list
http://www.cpu-upgrade.com/mb-Intel_(chipsets)/5520.html