precision T7500 CPU upgrade

Hi, All, 

I have a precision T7500 with Xeon 2.13Ghz cpu. Recently, I would like to upgrade it with two core i7 2600/960. 
I wonder if the cpu is compatible with the motherboard? Is there any list /recommendation for the cpu upgrade with highest cost effciency ratio? 
My budget is limited to 1000. Please let me know, I will appreciate. 

Thanks in advance,

Max