If you need the better high ISO and the articulated screen, then there's two good reasons. The 500D can buffer more photos in RAW though, if you like to rattle off a load in one go
If you have the money and it will make you happy then why not- you can't take it with you.
Having said that, upgrading body makes more sense when you hit the limits of functionality or have requirements that are no longer met- e.g. the 600d does shoot much better video and it also has wireless flash control which the 500d doesn't.
As you haven't actually said what you hope to gain it seems on the face of it that it's just a move for the sake of it and realistically is unlikely to improve your pictures if that's the aim.
You would probably be better spending your money on a course or a great lens but if there's something the 500d can't do or the money's burning a hole in your pocket then go for it.
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