I haven't carried it out on a 500, but have on other vehicles with a similar construction. the beam will ideally be removed as you'll need to press/cut/burn out the old bushes usually then press new ones in. If it were me, and either paying a garage to do this or spending the time to have this done I'd fit Powerflex polyurethane bushes. Not only are these a bit stiffer alternative than the standard rubber bushes, which should give you a handling increase, but they will not perish and degrade like rubber, so should last the lifetime of the car. They are generally easier to fit as well.
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