Upgrading CPU, will my power supply still handle it all?

[Nukas]

So, first a small overview of my system:

MOBO: GA-880GMA-USB3 rev3.1
CPU: Phenom II x4 850 (w/ stock fan)
GPU: Radeon HD 6850

Additionally there are 3 RAM sticks, 2 hard drives, one DVD/CD drive and peripherals that I'd consider insignificant (mostly stuff attached to USB ports).

Everything is set to stock speed and voltages.


Now, I'm planning an upgrade. I want to buy a FX 8350. I have a somewhat old 500w PSU that I took from my older PC when I started building the one I have now. This power supply has worked fine with this system for a long time, and does not fail even at peak demands.

The question is: do you think I'll have to upgrade my PSU to be able to use the FX 8350 at its peak? If so, how much power do you recommend?

Please keep in mind this is a budget system used mostly for gaming.



Bonus question: Do I have to upgrade my BIOS to use the FX 8350? It's using the default firmware that came shipped.

 

[Tradesman1]

Before rushing ahead, check and make sure your mobo even will support the 8350, with GB I'm not to sure

 

[Nukas]

Before rushing ahead, check and make sure your mobo even will support the 8350, with GB I'm not to sure

It uses an AM3+ socket so it should support it. The mobo's page does not show specific support for the 8350, however it does show support for some Vishera CPUs such as the FX 6300. The page seems outdated as it's missing many models.
The only issue is that I've heard some users say you need the latest BIOS firmware for full support of that CPU, while others said they could use it fine with the stock firmware. So I'm not sure who is right.

 

[Tradesman1]

It should show the ones that they have programmed the BIOS to support, if any doubt, call and check, many mobos have been upgraded to support FX CPU - but not all support all of them