MoJoe is incorrect and dirtysouth made an incorrect assumption about your amp but his logic still applies. The amp is rated 250w @ 4ohms or 500w @ 2ohms so keep that in mind.
First off, the IDQ should be able to handle 500w if it is in a sealed enclosure built to Image Dynamic's specifications. It will not handle 500w in a ported or bandpass box.
There are two models of the IDQ12 v2. One is a 2ohm DVC and the other is a 4ohm DVC. I am going to assume for now that you have the 2ohm DVC because with two of them you can run 8ohms, 2ohms, or 1/2ohm load. In order to get the most out of your current amp you would have to have them wired for 2ohms. If this sounds like greek to you then you probably wired them incorrectly. If that is the case, please read the following tutorial and come back when you can tell us exactly what model you have and how you have your system wired.
http://mobile.jlaudio.com/support_pages.php?page_id=161
If you know for a fact that you have the dual 2ohm version of the IDQs and you have them wired for 2ohms, I have some bad news. If you bought a second m500 you wouldn't get any more power to your subs. When connecting two subs to your amp you can get the optimal 2ohm load. When connecting just one you only get a 4ohm load. This means the m500 output will drop from 500w to 250w.
So if you confirm that you have the IDQv2 2ohm DVC subs, the only options you have at this point are:
1) Toss the m500 and buy an m1000 or equivalent monoblock 1000w amplifier.
2) Buy a second m500 and two new subs that are 4ohm DVC (so each one can be wired for 2ohms).