While most off the shelf computers coupled with a good USB interface will do a decent job running X1.... there are a few things you should look for in a laptop...
One of those things is definitely a 7200rpm hard drive.
500 G is OK.... it's better than the 320G drive that is in my stock Dell..... but at the time... it was pretty big. You can always add a USB external drive for back up and storage. I bought and ran a 500G external to hold the projects and my samples and they ran just fine from there. 99% of it gets loaded into RAM and runs from there which is much faster. Like money, you can never have enough RAM.
For the price though, an off the shelf lappy is hard to beat. Get the faster drive and enjoy. For a home studio started PC, that will work fine. If you start getting more into recording and serious about it, you can build or buy a nice desktop screamer to run the DAW.