Do I have to update bios for Asus P8H61-I R2.0 LGA1155 to use with i5 3570k?

So I wanted to make a smaller pc and was looking for an itx board. I was wondering if the Asus P8H61-I R2.0 LGA1155 needed a bios update to work with an i5 3570k, or any ivy bridge chip?

Yes it wil.
I would suggest that it would be better to look for a Z77 itx board.
Not only will you gain better overclocking potential,
but you will also get pci-e3.0 support.