Azcexk :
Rogue Leader :
The 6700k will not work on an X99 motherboard.
Should you get a correct motherboard for it (Z170/Z270) then yes your 500w PSU is more than enough. Do you know the exact model of XFX 500w it is?
how isnt the motherboard LGA 2011 compatible whit the i7 and the psu is XFX P1-550B-BEFX Full Modular Cables
the i7 6700k is an LGA 1151 CPU not LGA 2011. If you wanted an LGA 2011 i7 you need the 5820k, 6800k, 6850k, 6900k, etc.
That PSU is a really good one, its 550w gold rated actually. Its more than enough.