Can I lower my X5 for under $500?

[x5pdx]

I have done a search and read many posts about lowering the X5, but I can't seem to put together how much lowering is going to cost. Basically, I have an 04 X5 4.4i sport with running boards. I can't stand my running boards, but want to keep them for the looks. They were already on when I bought the car. I always rub my calf on it when getting out. I think you have to been at least 6' tall to clear it without stepping on them when getting out. I'm 5'8".

Will lowering the car 1"-2" solve my problem? (and it does look a lot cooler too!) I will definitely lower it if I can do it all for under $500. Is that possible? I have 19" wheels.

Thanks in advance.

x5pdx

Link to pics of the car from the dealer...

http://content.liquidmotors.com/cm/PhotoGallery.aspx?RefID=1181-5478379-1&FP='http://photos.liquidmotors.com/Processed/Land_Rover_Fort_Lauderdale/5UXFB53504LV06357-5478379/5UXFB53504LV06357_004_LG.jpg'