Thanks to hacker Pod2G, the iPhone Dev-Team and Chronic-Dev we now have an iOS 5.0.1 Untethered Jailbreak! With this iOS 5.0.1 Untethered Jailbreak released in the forms of RedSn0w 0.9.10b1, PwnageTool 5.0.1 and the Corona 5.0.1 Untether Cydia package, Apple is sure to take notice and release a firmware update to fix the exploit this iOS 5.0.1 Untethered Jailbreak uses. While it is expected that Apple will release the iOS 5.0.2 firmware to patch this iOS 5.0.1 Untethered Jailbreak exploit, Apple has also been rumoured to be releasing a larger updated dubbed iOS 5.1.

Though the iOS 5.1 firmware is probably a far ways off, it is good to know that hacker i0n1c (responsible for a few Untethered Jailbreaks in the iOS 4 firmware generation) may have an exploit that could Jailbreak the iOS 5.1 firmware Untethered. This iOS 5.1 Untethered Jailbreak news comes from developer @Veeence from a tweet he recently sent out to his followers.

We will keep you updated if any more news stems from the iOS 5.1 Untethered Jailbreak rumour. In the mean time, don’t forget to share any questions you may have or relevant thoughts in the comments section below and follow us on Facebook, Twitter or Google+ for more updates if you have not already.