It sounds like you want an excuse to buy a new reader! If you really want to save the reader you have, purchase one of Sony's mains chargers and leave it plugged in overnight - about 8hours. That may solve the problem.
The battery can be changed. Several peeps on this site have done it and linked to pictures showing exactly how they did it. Some time ago there was a pdf document going around which showed how to take a 505 apart. Unfortunately, I can't remember who was posting it. Try a search of the site.
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