It has been two weeks since Tesla announced it would be accepting orders for its new electric sedan, the Model S. They received a whopping 500 orders in the first week and now are adding another 200 to the total in this last week.

Of the now 711 total Model S reservations made, it has not been announced how many are the basic Model S and how many are coming out of the Signature Series Model S pool of which Tesla will only build 2,000.

If you’re thinking of reserving a Model S you’ll be required to make a $5,000 deposit for the standard model and a $40,000 deposit for the Signature Series, although both deposits are fully refundable.

You should be able to finally get your hands on a Tesla Model S in late 2011.