Larry was the 1st one I saw do this about 10 years ago...I think he got it from Bill at Texas BBQ Forum. Nice thing about em is you can stick em on sides, roof, all over...although, your 500 is 304 SS? I guess they wont stick to that!
Yes, I think it's 304 (it could be 316) but both 304 and 316 are magnetic.
EDIT: I may have that backwards. 304 & 316 may be non-magnetic. Now I've confused myself. Anyway, magnets stick nicely to my PG500.
SECOND EDIT: I dug out an old textbook. Magnetic SSs are 409, 410, 420, 430, 439 & 440.