How to Update QTP6.5 to QTP8.0 and QTP8.2
You will need to uninstall QTP 6.5 and then install either 8.0 or 8.2. BTW 9.0 is also out and supports multiple object repositories/script/action.
Remember that once you open and save a test in a later version there is no going back to 6.5. Once you get a taste of 9.0 you will not want to go back.
If you are current on maintenance the Mercury will send you a link to download the latest version.