Can I upgrade from i3 530 to Xeon X3470 on emachines ET1861

I have an emachines ET1861 with a i3 530 processor and GTX 550 Ti and I was wondering if it is possible for me to just upgrade the cpu to an i7 870/880 or a Xeon x3470 on the same motherboard that is in the PC. I know that the sockets are the same for all the processors (LGA 1156) but I was wondering if there are any other compatibility issues with upgrading the CPU. Since the i7 and xeon processors use more power (95W as compared to 75W) is it okay for me to use the same CPU cooler that is presently being in use for the i3 530 or do I need to buy another CPU cooler for the i7 or rhe xeon.
Also I currently have a 500W power supply and is it okay if i keep the same psu while upgrading the CPU to a xeon x3470 and also upgrading the GTX 550 Ti to a GTX 970 itx.
Thanks in advance.

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TECH_MAN

Hi Flyerbird987,

It is good upgrade, but check if your motherboard supports Xeon processors, because not all motherboards supports Xeon processors.

flyerbird987

Thanks for the reply, however I wasn't able to find out much details about the motherboard since the company (emachines) has been now discontinued. Do you reckon that there is possibility that the motherboard could support the i7 870/880?