Finally there is some good news, just few hours back pod2g has confirmed that untethered jailbreak exploit which was previously working on the iOS 5 is also working for the new iOS 5.0.1 firmware. You can also see his untethered jailbreak video on iOS 5 here.
iPhone hacker pod2g updated by a tweet as follows,
This confirmed untethered jailbreak on iOS 5.0.1 will support the following Apple iOS devices,
- iPhone 4
- iPhone 3GS
- iPod Touch 4
- iPod Touch 3G
Keep in mind that this is just a jailbreak that will not unlock your iPhone, or iPad. Like always I ask you all that make sure you save your iOS 5 backup and SHSH Blobs before you start the jailbreak process or firmware update.