You aren't being very clear about what you want here, since I think @DWin's is technically correct, given your example code. I think what you really want is this:
y1 <- c(100, 200, 300, 400, 500)
y2 <- c(1, 2, 3, 4, 5)
x <- c(1, 2, 3, 4, 5)
# first plot
plot(x, y1,ylim = range(c(y1,y2)))
# Add points
points(x, y2)
DWin's solution was operating under the implicit assumption (based on your example code) that you wanted to plot the second set of points overlayed on the original scale. That's why his image looks like the points are plotted at 1, 101, etc. Calling plot a second time isn't what you want, you want to add to the plot using points. So the above code on my machine produces this:
But DWin's main point about using ylim is correct.