diff --git a/.gitignore b/.gitignore
index 1b525d0..ee6b458 100644
--- a/.gitignore
+++ b/.gitignore
@@ -1,2 +1,3 @@
 virtinst-0.500.3.tar.gz
 /virtinst-0.500.4.tar.gz
+/virtinst-0.500.5.tar.gz
diff --git a/python-virtinst.spec b/python-virtinst.spec
index 9ecbc1b..c069170 100644
--- a/python-virtinst.spec
+++ b/python-virtinst.spec
@@ -19,7 +19,7 @@
 
 Summary: Python modules and utilities for installing virtual machines
 Name: python-%{appname}
-Version: 0.500.4
+Version: 0.500.5
 Release: 1%{_extra_release}
 Source0: http://virt-manager.org/download/sources/%{appname}/%{appname}-%{version}.tar.gz
 
@@ -79,6 +79,13 @@ rm -rf $RPM_BUILD_ROOT
 %{_bindir}/virt-convert
 
 %changelog
+* Wed Feb  2 2011 Cole Robinson <crobinso@redhat.com> - 0.500.5-1
+- Update to version 0.500.5
+- New virt-install --cpu option for configuring CPU model/features
+- virt-install --vcpus option can not specify topology and maxvcpus
+- New virt-install --graphics option to unify --vnc, --sdl, spice config
+- New virt-install --print-xml option to skip install and print XML
+
 * Wed Aug 25 2010 Cole Robinson <crobinso@redhat.com> - 0.500.4-1.fc14
 - New virt-install --console option for specifying virtio console device
 - New virt-install --channel option for specifying guest communication channel
diff --git a/sources b/sources
index d70c6ea..8ef3739 100644
--- a/sources
+++ b/sources
@@ -1 +1 @@
-679d591b56fd0c49ea36a49a0beab49a  virtinst-0.500.4.tar.gz
+b26d67f2c7635ff8f4500f1cc258e9c4  virtinst-0.500.5.tar.gz