iOS 5.0.1 Untethered Jailbreak is here!

Merry late Christmas! It's here! he iPhone Dev-team has just pushed Redsn0w 0.9.10 b1 to jailbreak 5.0.1 untethered on iPhone 4, 3GS, iPod touch 4G, 3G and iPad 1. pod2g, the man behind the untethered jailbreak, handed his project to iPhone Dev Team and Chronic Dev Team to get implemented on both redsn0w and greenpois0n to release the final product -- iOS 5.0.1 untethered jailbreak.

Supported devices :
iPhone 4 GSM
iPhone 4 CDMA
iPhone 3GS
iPod touch 4G
iPod touch 3G
iPad 1
If you have one of those devices and are not on 5.0.1 yet, update now! The SHSH window is still open for 5.0.1 If you unlock via ultrasn0w or gevey, make sure you only get to 5.0.1 via a custom IPSW! Once you’re at 5.0.1, use the latest redsn0w 0.9.10 to both jailbreak and untether.
If you’re already at 5.0.1 with a tethered jailbreak, you have two choices: either run redsn0w 0.9.10 over your current jailbreak (deselect “Install Cydia” if you do that), or install the Cydia package prepared by the chronic devteam. The patches are the same regardless of which you choose.
Some of you are using a hybrid 5.0/5.0.1 configuration. If so, do not attempt to install this untether over that setup! You will most likely get into a reboot cycle. Do a sync and fresh restore to 5.0.1 then install the jailbreak + untether.

How to jailbreak your iDevice:
Connect your iDevice with your PC via USB, and open iTunes then Restore to iOS 5.0.1 (If you are already running iOS 5.0.1, bypass this step)
Start Redsn0w 0.9.10 b1, and press on "Jailbreak" button
Now select “Install Cydia” and click “Next”.
Now make sure your device is both OFF and PLUGGED IN to the computer before you click “Next”.
At this stage you will be presented with a screen where you will be guided on how to enter DFU mode. Quickly hold “Power” button and then while holding the “Power” button, you will now have to hold “Home” button too. Now after few seconds release “Power” button but keep holding “Home” button until installation begins.
Wait until you get iOS 5.0.1 untethered jailbroken in few minutes.

Downloads:
Redsn0w 0.9.10b1 for Windows (Run in Administrator Mode
Redsn0w 0.9.10b1 for Mac OS X

iOS 5.0.1 ipsw download:
iOS 5.0.1 - iPhone 4 GSM
iOS 5.0.1 - iPhone 4 CDMA
iOS 5.0.1 - iPhone 3GS
iOS 5.0.1 - iPad 1