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Your 505 is powered by a Lithium polymer battery. These cells have a limited life; they deteriorate just lying on a shelf. Typically, in my experience, one can expect a life of three of four years using them as we do.
Certainly someone out there can replace the battery. I cannot imagine that Sony would not provide a battery replacement service.
First thing I'd do is contact Sony. I'd also get on Google and see if there is anyone near you who can R&R the battery.
Joe
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