Can I update android 2.1(eclairs) to android 2.3(gingerbread) or 4.0(ICS) ?

My mobile is samsung galaxy 5 GT-I5500,

Firmware version:
2.1-update1.

Kernel version:
2.6.29-perf
root@SE-S609 #1.

These are my mobile details and I want to update my android to higher version.
So please someone help me.
If it can be done, please tell me how???