to answer your question in short yes it will run the game.
but to run the game well
i would recommend atleast an upgrade of ram to atleast 1gb and maybe a new video card too.
with the video card you might have to get a PSU to run it properly
when you consider the cost of all of those things you might as well just buy a new PC.
you can build or buy a new low-mid range gaming PC for as little as $300.00
if you do some research.