If I remember right it sticks out over the 2nd slot or close enough to it that you are wont be adding a stick of memory without removing the fan from the cooler. So you maybe able to get away with not removing the whole cooler but just one of the fans.
Also with the Kingston HyperX make sure that you get the 1.5v version of their memory not the 1.65v that most of the HyperX runs at.
It seems like your gettin an expensive cooler and a nice board. Why skimp on the RAM so much. Personally I'd at least spend 40-50 bucks on some Corsair Vengeance Lo Pro 2x4GB RAM or some Kingston HyperX Genisis 1600Mhz 2x4GB. And if I couldn't afford that I would save until I could so I wouldn't just be buying better RAM later on and therefore wasting money.