It will need to be re-formatted to FAT32, but not all formatting software may do the job in a way that your Zip may like. Have you tried the SD Associaton’s Formatting Tool?
Here’s another formatting tool that I hear people have have good results with in doing exactly what you are trying to do, re-format a 64GB SDXC (exFAT) to a SDHC format (FAT32).
Please let us know if either of these work for you, as there will be others who will undoubtedly want to do the same. 
