While there's only one meaning for WPC, different companies take different measurement standards to come up with their values. The Yamaha has a 500W power supply, so there's no way it can put out 120W x 7 at once (that adds up to 840W, which is 340W more than the power supply can even take in!). A $3,000 home theater amp will probably have a massive power supply that can handle all that simultaneous current. But do you really need that?
The big question is how it sounds. If your Yamaha doesn't seem to have enough power, the cheapest solution would be to buy a 2 channel amp for the M80ti speakers. The amp would run off the pre-amp outputs of your Yamaha, and by taking the burden of the main speakers off the receiver, you'll have more power supply current available to drive the surround speakers.
But if you have enough power, then leave well enough alone.