Will this be done through Replication Manager (If so what version) or through Navisphere?

Below are few pre-requisites:

1) Zoning between the two CX700.
2) Luns in the target CX700 should be of equal or greater size of source CX700.
3) Unmount all filesystems for volumegroups being exported and stop all applications (Plan for the downtime).

To expand on the previous advice:

1) Zoning between the two CX700 > SP A to SP A etc etc Also take note if you are using MV as it can't share ports with ISC/SC

2) Luns in the target CX700 should be of equal or greater size of source CX700 > If you do use RM they have to be exactly the same size, therefore use the the block size of the source LUN

3) Unmount all filesystems for volumegroups being exported and stop all applications (Plan for the downtime > Not required for ISC, for Full SAN Copy it is a requirement.

4) RM 5 with FLARE 26 is not currently on the EMC Support Matrix