Apple has released its first Over-The-Air (OTA) iOS update - the iOS 5.0.1 - to users, starting from Thursday. The new update promises key improvements and bug fixes, including the one responsible for the battery draining problem, which has been haunting Apple for the last few weeks.

For those users who have already upgraded their devices to iOS 5.0.1 and now want to jailbreak, here is some good news. The latest version of Redsn0w, which is 0.9.9b8, can tether jailbreaking the iOS 5.0.1. However, before proceeding, there are a few points users must be aware of.

In a recent tweet, iOS hacker @pod2g warned users saying that those still waiting for an untethered jailbreak for iOS 5, should not upgrade to iOS 5.0.1.

Note about 5.0.1: don't update if you plan on jbking : the bug Charlie MILLER found can simplify exploits dramatically and will be closed, he tweeted.

According to reports, no method has been figured out yet to downgrade to iOS 5. Hence, if you upgrade to iOS 5.0.1, you might lose the chance of a potentially untethered jailbreak for iOS 5.

For those who already have iOS 5.0.1 running on their devices and wish to jailbreak iOS 5.0.1, here are the steps:

1. Download the latest version of Redsn0w (0.9.9b8) for Windows or Mac.

2. Run Redsn0w and select Extras.

3. Click on Select IPSW, browse to where your iOS 5 firmware is and select appropriate firmware file for your iDevice.

4. Go back and then hit Jailbreak.

5. Select Install Cydia, hit Next to put your device in DFU mode and then Redsn0w will apply the jailbreak.

6. After everything is complete, you will be reminded to boot tethered the device.

7. Now click on Back on the Redsn0w screen, select Extras and then Just Boot. (You will need to perform this action every time your device is switched off or rebooted)

8. Follow the instructions to put your device in DFU mode again

9. Wait till your device is rebooted, and it's done.

Jailbreakers must know that this jailbreak won't work with the dual-core iPad 2 or the iPhone 4S.

Watch the Video Below:

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MUST READ: iOS 5.0.1 Jailbreak: Creepy MobileMonitor Tracks an iPhone Remotely, Being Almost Invisible

MUST READ: iOS 5 Jailbreak: Top 10 Jailbreak Tweaks for iOS 5 (VIDEOS)

MUST READ: iOS 5 Jailbreak: iPhone 4S, 4, 3GS 'Can Be Unlocked Without Any Jailbreak'

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