The sidewall height of the 195/55/15's is 195 X 0.55 = 107.25mm. The 195/50/15's = 195 X 0.5 = 97.5mm. So these new tires you're proposing are about 10mm larger radially. I'd crank my wheels either direction and see whether that 10mm would be getting the tire close to anything it shouldn't. I would guess it wouldn't be a problem.
If you know someone who has a GPS unit, it might be a good idea to go check your speed afterward. I've checked my speed and found that the speedometer reads 2-3mph slow, so I'm really only going 67mph or so when it indicates 70. With bigger tires (er, tyres
) you'll be going faster than what your speedometer says because you'll be covering more ground per revolution.