Yes i imagine yo would be able to, when you start the game theres a tool some where in the menu thats like a system stress test that will run a video on your machine to see what are the systems specs. If your experience graphics lag like jumping or jerking just scale down the graphics to a lower resolution or take off anti analising
I am going to be completely honest. That computer will not be able to run GTA 4 on the integrated graphics. And like mcnumpty23 said you want at least 30 fps + to get a smooth feeling in the game. I have a great computer and the game still runs like ***. I wish Rockstar would optimize their games a little more for pc and not for consoles -.-.
In the end if you want to run that game with good frames I would just save up some money and build a custom pc with a decent graphics card. I would recommend a GTX 260 or higher or a HD 5770 if you prefer ATI. Also try to get atleast 4GB of ram, that will help too.
Don't bother trying to upgrade your laptop, will cost you more money and will not be worth it in the end.
Based on the following Youtube video, GTA IV can be played with an Intel HD 3000 graphic core. Note that the poster ran the game with an overclocked desktop i3-2105 CPU, so actual performance will be slightly lower. You cannot overclock a laptop, at least not that I am aware of.
GTA4 is the worse designed PC game i have ever seen... it has many built in limitations and restrictions on what you can set it to based on your hardware. i was running 9800GT 512MB cards in SLI and it would not let me max out certian settings as i was "over my video cards ram limit" made no notice to the fact the game was installed INTO my ram. (ram drive) its a very crappy game. even with my 5870's it wont let me max some settings. i enjoy the sand box, hate the restrictions imposed.
in either case, the i3 is not a gaming chip, its a low end internet browsing chip meant for basic computing and battery life in laptops. if you lower all the settings it might run bit im sure it will glitch from time to time. see if your laptop has a PCI-E slot and buy a new video card for it if it does.