You have to really have your stuff together to nail a deer at 500 yards. I don't know where you live, but they can run a long way after being hit.
It is a good idea for you to have a range finder and a wind indicator for longer shots. Let me give you an example. I hunt power lines, my rifles are finely tuned machines, with trajectories marked on the scope. I presonally don't shoot a 7/08 past 325 yds due to wind drift. Two years ago, I was sitting on the power line in my ladder stand. I have been hunting this one buck all year. I usually carry my 7 mag, but put up another stand that day and wanted a lighter rifle, so I picked up the 7/08. I had intended to hunt a stand down on the creek bottom, but changed my mind at the last minute. I had been sitting on the power line for perhaps 30 minutes and the large buck that I had been hunting all year walked out at 320 yards. I had a quartering breeze blowing at about 10-12 mph. I held off a little, and at the shot, the deer took off. It's thick as a jungle off both sides of the power line. I looked and looked...could not even find a drop of blood. Two days later I rattled in the deer and killed him, and noticed that he had a hole through both ears where my bullet had hit him.
The bullet had blown quite a ways over that 320 yards; I was shooting a 140g Ballistic tip at 2900 fps.
500 yards is a very long ways, especially for a 10x scope. The deer will probably look like a fly looking through your scope and the size of your cross hair is a critical consideration.
Practice, practice, practice!
Good luck and best wishes!