This happened to me when I first got the 505. I had to re-flash the device for it to fix itself.
Note this will delete any data on your reader.
To do this it's as follows: (Make sure the device is charged)
1) remove any memory disks.
2) Hard reset, push the pin in and hold it down for 10 sec
3) Hold down the bookmark and the volume +
// Wait for a while as the SONY device reboots
// A menu will show up asking you if you wish to re-flash the device.
4) Depress the 5 button.
// Let it restore until it is complete
Hope this helps
=X=
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