If the 500D is the T1i, I am not sure about the pricing.
Quick check at Best Buy ( for pricing )
Rebel T1i $749 USD w/ EF-S 18-55mm lens
Rebel T2i $664.39 ( ON SALE ) EF-S w/18-55mm
Rebel T3i $770 ( ON SALE ) w/EF-S 18-55mm lens
Canon G12 $439.00
My bad, went to wrong site for price check before posting.