Yes, it will. Please note that Paint Tool SAI is an open-source application. If the updates to it are not done correctly, the pen and tablet might not work well with it.
You will also need to add Paint Tool SAI to the Application line in the Xencelabs Preferences and then remove the “work with Windows Ink” check. It uses WinTab technology not Windows Ink.
If you want to add Paint Tool SAI to the Application row in the Xencelabs Preference, the "application path" is listed below to make it easier for you to locate it.