Sorry, I made a mistake when I wrote that post. I said that in order to use the new Sandy Bridge CPUs that I need to update the BIOS. That should have said Ivy Bridge. My bad.
Anyways I found [this thread
stating that some Z77 motherboards require an update in order to be compatable with Ivy Bridge. I checked on the MSI website and it showed that my motherboard requires an update in order to flash the bios.