Since you're budget is restricted, work with what you have. If you've already got the 500D, then use it by all means! I first used a point-and-shoot (with good focal ratio though), to try out if I could capture anything at all, and I was really surprised at what I could get. Now I'm using a 550D, astromodified, that I could get cheaply, with a good 135mm lens. It's great for the larger deep sky stuff, but indeed, planets won't be very good. I do use a star tracker though. You should also keep in mind that your shutter lifespan will deteriorate quickly if you need to take many shorter exposures vs fewer longer exposures with a star tracker.