Mornin Brett.
There are good tripods, and there are cheap tripods, but there's no such thing as a good cheap tripod!.
A tripod in the price bracket that you've suggested will be very light, probably of a plastic or very thin Aluminium construction and won't be very stable - beware, buy cheap buy twice. Work out the value of your camera and lens and then think about whether you want to entrust that value on a flimsy tripod.
Redsanapper have an excellent range of tripods and heads although they're going to be around twice your budget plan- alternatively look in the classifieds, you might be able to pick up a better quality tripod at a bargain price.