No need for a 700w PSU i am running the same setup except for the GPU is a 560Ti. I have a 650w PSU and that is way over what I need, as long as it is a good quality 500w it should be fine if not then 600w would be fine. No need for 700w.
Most power supplies have a label on them that will actually give you the 3.3V+ output and the 12V+ output, add that up and that is your max output of your power supply. Based off of the GPU's recommended spec's (visit nVidia's website for that) and your power supplies current max output you should be able to figure out if it is enough watts.
The power consumption of the Asus ENGTX560 DC/2DI/1GD5 (the cheapest 560 from Asus) is indicated with max. 150W, add 150W for the 2500K at full load and don't know, perhaps tolerant ~50W for the rest, and there you go, ~350W at full load, both graphics card and processor, that is. So a 500W PSU, even a low quality one, should be fine (though I obviously won't recommend low quality). I assume you take everything else (HDD/SSD, case, optical drives, fans, heatsink (?), monitor/keyboard/mouse) from your old computer?