Yep a 500 watt 8 ohm speaker driven with and amp rated at 1100 watts at 8 ohms is a great match. Plenty of power there for great headroom without clipping the amp. That amp pushing 500 contenuious watts is just running at half power with 600 more watts for head room and would sound clean. You could even push short peaks of 600 to 700 watts into those 500 watt speakers and still have room for clean head room. The speaker should handle more then the recommended 500 watts short term as long as the signal is clean and distortion free and the input signal is matched to the input signal the amp is designed to run on. If you overdrive the amps input signal range you will create input distortion by over driving the recommended input signal.Above wouldn't be a problem at all.
But if you keep the input signal below unity gain, it should sound great and be a good match.