The standard electrode potential is calculated using the formula:
\[
E^\circ_{\text{cell}} = E^\circ_{\text{cathode}} - E^\circ_{\text{anode}}
\]
Using the given values for the electrode potentials and the relationship between the half-reactions, we calculate \( E^\circ_{\text{Cu}^{2+}/\text{Cu}} \) as 0.500 V.
Final Answer:
\[
\boxed{0.500 \, \text{V}}
\]