I just bought this 2003 Ford F150 HD with a Super Charger.
The rear end was upgraded to a 4.10

I put a scanner on the OBDII and I got the P0500 in the computer
"Vehicle speed sensor malfunction"

Did a search on autozone and it appears to be a $20 sensor in the rear axle that sends signals to the Cruise Control, transmission shift points etc...
Since the rear end was upgraded, I'm sure the computer is looking for the old 3.75 Gear, could this be causing the issue?
I'm sure we have to tell the computer what gear to look for

I'm going to try and replace the sensor, my Cruise control would stop working intermittently
Has anyone delt with this issue?

 

Update: Fixed it....

I replaced the speed sensor located on the rear axle, bought it Advance Auto...
Slide under the truck, think I used a 3/8" wrench, busted loose (1) bolt,
Unhooked the harness
Used a small screw drive to help pry the sensor loose, it has an o ring so you will need to pull up realizing that's whats holding you back.

Dropped the new sensor in, tightened the screw, hooked up the harness.
Truck shifts SMOOTH now,,, more power etc.
Cruise control works every time now....

 

Good deal!