I only ever user Sats on my iKons, if you select your receiver type in screen 3 then go to screen 4 it will give you a detailed diagram of how to setup your unit.
All choices plug into the S-Bus port, there are detailed instructions for all the different receivers on the left side.
I always run two Sats on 500 size and upwards, so your probably do need an Rx and a Sat.
Personally I wouldn't use a micro on a 500, MSH only recommend the Micro for about the Blade 180 size, whereas the Mini and Standard are recommended up to 800 size.
Hope this helps.