As per the above poster, Canon do a wired remote control called the Canon TC 80N3, it can be programmed to fire off a shot at preset intervals from 1 second to 99 hours. It is expensive though, RRP is £150. There are third party versions of this remote that come in around £30-40 and to be honest do the same thing - Canon just likes ripping people off for all its Official leads, remotes and cables - always has done.
Bear in mind though that I'm not sure that the Canon TC 80N3 actually fits the 550D (you would have to check if you want to fork out the extortionate price).
I've had a look at the downloadable PDF Manual for the 550D which can be found here and according to the System Map, which can be found on page 217, they show the Remote Switch RS-60E3 as the Offical remote.
Doing a search on a well known website that is named after a South America River on this remote, threw up several third party versions with built in timers, most of them being rather cheap, around the £20 mark
If you look on the bay you can pickup some really neat digital remotes with timers for less than £30, I've been looking for a 30D of course for newer cameras it may cost more.
I did actually mean to mention it prob wouldnt fit the XXXD series! Good job someone filled that gap but yes you can get a bay job for 20ish pounds that does the same thing.
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