I'm going to assume your board has 3 slots!
I have 2x256 + 1x512 in my Asus A7N8X-D and it still runs and shows as dual channel, as long as the ram is of the same speed and equal to the combined size of the 2 smaller sticks yours should work too.
The difference in speed between single (7xxMb\s) & dual (12xxMb\s) mode is around 60%+ here, which is not to be sniffed at.