Notcom, the developer behind TinyUmbrella, has just released TinyUmbrella 5.01.00 for both Mac OS X and Windows. TinyUmbrella 5.01.00 adds support to save iOS 5.0.1 SHSH blobs. Although, It’s important to read what Notcom had to say about this update below:

Even though there is still no working solution for restoring 5.x on iPhone 4S I have released a 5.01.00 so you can at least save 5.0.1 SHSH. I have added tentative support for at least saving 5.0.1 SHSHs for iPhone 4S but as of now we are unable to use them fully.
As soon as more information is available I will update.

Follow our step-by-step guides to save your iPhone, iPod Touch, iPad and Apple TV SHSH blobs using TinyUmbrella, and to downgrade using TinyUmbrella:

You can download TinyUmbrella 5.01.00 from the iJailbreak Downloads Section. Additionally you can use one of the download mirrors below:

Download TinyUmbrella 5.01.00 (Windows)

Download TinyUmbrella 5.01.00 (Mac OS X)