It depends on the particular unit that you have. Some overclock well, some don't. There are two stickies at the top of the overclocking forum that address basics of finding the best stable overclock for a particular CPU. May I suggest that you read those first, ask any questions about the process that you may have, and then go for it?
Please keep in mind that there is a small chance of leaving the CPU merely an expensive ornament. You have to accept the risk to overclock.