Is my CPU 64bit compatible?

I have an ACPI Multiprocessor PC with Intel(R) core(TM)2 Duo CPU E7500@2.93 GHz/2.93GHz. 2.99GB of RAM and a GeForce 9400 GT Video card. My OS right now is XP X32. I would like to upgrade to Win.8.1 x64. Is my CPU 64Bit compatible? Will I be able to do it? If so how should I go about it esp. drivers? Kindly enlighten me please.

Thanks,

Regards,

Fleshaxe.:ermm: