It might but you are pushing it...
It also depends on what else you are powering. How many HDDs do you have CD-DVDROMs, USB Devices, is your CPU OCed, fans, LEDs, ... al that good stuff.
Well if you look at XFX's requirements: http://www.xfxforce.com/en-gb/products/graphiccards/HD 4000series/4870.aspx#4
It states that you only 600W to run in crossfire. Generally those requirements are also based on quite power hungry systems with Core 2 Quad processors etc. 650W should be plenty provided you have good amps on the +12V rail.