Welcome to the forum Andey108
That definitely doesn't sound good.
I'm not up on the 500 motors to say exactly what the problem is other than reading they have pins in the valve cover that the rockers are on, and those pins get sloppy over time with wear.
Have you had the valve cover off to inpect it or have you done work on it? If so, did you follow the service manual instructions? I've read of using rubber bands to hold the rockers in place so they don't get out of position while installing the cover.
I looked at your profile and posts to see if I could get some idea of how long you have had your bike and what you have done to it so far but you only posted about the B&B ignition(which you left hanging without any outcome). Where are you located(no location in your profile)? Someone might be close that knows how to help you with your bike, so put that in your profile.
Do you have the service manual for your bike?
Go to the new members section and introduce yourself and your bike, when and how you got it and it's history you know of it.
New member introductions
http://forums.sohc4.net/index.php/board,58.0.html