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If you had to jailbreak your iOS device running on iOS 5.0.1, you would have two ways to go about it. By doing a jailbreak with RedSn0w or by installing the Corona 5.0.1 Untether from Cydia. That may not be the same case if you upgrade to iOS 5.1 once it’s released. Apple has evidently patched the Corona 5.0.1 untethered exploit on the latest version of iOS 5.1 beta 3, which is a big blow to anyone who’s not upgraded to iOS 5.0.1 yet.
The last few weeks have been filled with updates about the A5 untethered jailbreak that is currently in progress. We are still waiting for some more updates as the d-day gets closer. The A5 untethered jailbreak is in it’s final stages, as stated by pod2g in his latest blog post.
So, if any of you haven’t upgraded to iOS 5.0.1 yet, then it’s best that you get it done soon before Apple stops signing it. This is because the only untethered jailbreak currently available to the iPhone 4 and older devices works on iOS 5.0.1 only. Save your SHSH blobs and if you’re stuck on iOS 5.1, you could end up with a firmware that cannot be jailbroken.