Yes. And HDS 5 would be perfect for this kit. The power cable and transducer cable are blue connectors.
The Lowrance PTI-WBL Ice Transducer is compatible with all Lowrance systems with a blue connector X, LCX, LMS, HDS and Elite Broadband units.
The Lowrance PC-30 Power Cable is compatible for use with All HDS Series Units, including the HDS-5, HDS-5m, HDS-5x, HDS-7, HDS-7m, HDS-8, HDS-8m, HDS-10, HDS-10m, as well as the Elite-7 HDI Series.