I was meditating on this passage during a Gateway House of Prayer night watch and it resulted in this exercise:

Read Isaiah 55:1-3 slowly three times.  Each time ask the Holy Spirit to illuminate Gods truth to you.

In verse one we are issued two different invitations to “come”.   Reflect on the invitations.  The first is to everyone who is thirsty.  Is this you…are you thirsty?  What are you thirsty for?  What is there in your life with which you are not satisfied or do not find satisfying? The second invitation is to those who are poor.  Do you see yourself as poor or rich?  Why is the invitation only given to those who are poor?

In verse two we are presented with a question, “Why do you spend money for what is not bread? And your wages for what do not satisfy?”  Is there something are you trying to buy?  Is it satisfying?  Why is this question only directed toward those who see themselves as rich?
In verse two and three we are given three instructions.  (1) Twice we are told “listen”  (2) eat what is good (3) Incline your ear and come to me.  First, pause and listen by asking Holy Spirit for revelation: What am I eating that is not good? When the Holy Spirit brings something to your mind, confess it to Him and repent of it.  Repeat the listening with this question until the Holy Spirit is quiet.  Second, pause and listen by asking Holy Spirit for revelation: What am I eating that is good? As the Holy Spirit brings these things to mind affirm them, thanking God for His grace to feed you with such goodness.  Third, pause and I line your ear God by asking Holy Spirit for revelation: What do You have for me to eat that I have not yet tasted? As the Holy Spirit brings these things to mind, welcome those things into your life and receive them from the Holy Spirit.
In verse three we are presented with a conditional promise that if we accept God’s invitation and follow His instructions we will (1) live (2) participate in an everlasting covenant according to the faithful mercies shown to David.

Father in Heaven, by faith in the finished work of Jesus Christ, I accept your invitation and come to You, acknowledging my poverty of spirit. I am thirsty for You and Your presence in my life.  I agree with the words of conviction You have spoken to me and I turn away from false bread and water which does not satisfy.  I agree that You are the bread of life and the living water and I come alive in Your goodness.  By faith I recieve Your promise of life abundant and full of joy.  Thank You for Your covenant of everlasting salvation according to Your faithful mercies which are new every morning.  Amen.