Yes, they are compatible, assuming you add a PCIe 6 to 8 pin adapter cable to the mix. Your PSU has but a single 6-pin PCIe connector. The GPU requires an 8-pin connection.
Something like this: http://www.newegg.com/Product/Product.aspx?Item=N82E16812200420
However, for best overall performance, you should get a a better, more capable, higher quality PSU.