I don't think you should have a problem with it. Your air flow sensor should tell it to put a little more fuel I believe, but may be wrong. However, if you get a chip or something that can set the air-fuel ratio to accommodate the intake better it will give you more of a HP increase.
I have a Ram Air Intake, which most people now days call a cold air intake, and it works fine. I always thought cold air was when the filter was actually placed down lower to get air from the outside, and the ram air was a little short tube with the same filter on it. The tube is a little louder than stock to tell the truth, but I dont care about that.