Theoretically, any good bolt gun will be MOA at 100 yards and will be minute of deer at 500, but there are a few extenuating circumstances... drop, wind, retained energy, lower velocity and bullets that will no longer expand properly, a shooting position that is much larger than MOA... at any rate it won't be the rifle that is the limiting factor.
You owe it to the yourself and the deer to spend some time with a chronograph, ballistics calculator and the shooting range before you go off deer hunting with ANY gun at 500 yards.
http://www.handloads.com/calc/index.html
The following ammo (2960fps MV) will be +/- 3" (MPBR) at about 285 yards. Not too bad. Velocity and energy calculations match what is listed at Hornady below. ~2000fps/1460fpe at 500 yards, should still be enough. It's pricey though. Drop is ~35.5", wind drift is 19.5" with a 10mph cross wind.
Standard 156gr 30-06 ammo will be ~2800fps MV. Velocity energy at 500yd will be 1870fps/1280fpe, so you're getting close to the limit of reliable bullet expansion. Drop is 40.2", wind drift is 21".
http://www.hornady.com/store/30-06-Springfield-165-GR-InterBond-Superformance/
Drop at 500 yards for Hornady Superformance .30-06 165gr ammo is claimed to be 40.7", but I get 35.5" low at 500yd when sighted in 3" high at 150yd.
You're going to have to practice at that range, have a range finder you trust, have a chronograph so you know exactly what your MV is to calculate you trajectory and wind drift, have a scope good enough to see that far, and use something like a Mil-Dot scope.
I would go with a 7mm Rem Mag or a 7mm WSM at that range. You'll retain 2240fps/1715fpe but with 5" less drop and 5" less wind drift at 500 yards. With a .30-06 you're on the edge. Not so with a 7mm Mag.
Federal has all of this stuff calculated for you for their ammo. Here is the 140gr Nosler Accubond 140gr 7mm WSM:
http://www.federalpremium.com/products/details/rifle.aspx?id=388