Provided the TDP is the same, then the i3-530 stock cooler should be sufficient.
The i3-530 was a 73W TDP chip. The i5's of the same era were the same (650, 655K, 670, 680 etc).
The Lynfield i7's (860, 880 etc) were 95W, so with a ~20W TDP increase, I doubt the stock i3-530 cooler would cool it adequately.