Donny i am pretty sure this is all explained on the PA 3X 1.5 version upgrade notes. the same methods for the PA3x applies to the PA 500....
Or at least go to the KorgPA.com website and download one of the PA 500 OS update packages and all that info will be in there.
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Yamaha PSR SX900 / Roland G70 / Roland BK9 / Korg PA700 / Roland GW-8L / Roland Fantom O6