iOS 5.0.1, can be jailbroken using redsn0w 0.9.9b8 and the SemiTether tool can be used on iOS 5.0.1 to bring semi-tethered jailbreak. For more information about the SemiTether on a previous post.
Supported devices for the below guide:
iPhone 4 (semi untethered)
iPhone 3GS new bootrom (semi untethered)
iPhone 3GS old bootrom (untethered)
iPod touch 4G (semi untethered)
iPod touch 3G (semi untethered)
iPad 1 (semi untethered)
Of course the iPad 2 and iPhone 4S jailbreaks are not yet available. If you’re looking forward to fast & future jailbreak, betternot upgrade to iOS 5.0.1.
Jailbreak iOS 5.0.1 Semi Untethered:
STEP 1: Download iTunes 10.5 and iOS 5.0.1 final version.
STEP 2: Backup your iPhone, iPad or iPod touch and restore it using the iOS 5.0.1 IPSW file downloaded from the first step.
STEP 3: Download Redsn0w 0.9.9b8 for Windows or Mac OS X from here.
STEP 4: Open Redsn0w and select “Extras” then “Select IPSW” and browse for the iOS 5.0 IPSW file (download here).
STEP 5: Now click on “Jailbreak” then “Install Cydia”. You’ll need to follow the on-screen instructions to get your device into DFU mode.
STEP 6: Once jailbroken, your device will be rebooted.
STEP 7: Now open Redsn0w again and hit “Extras” then “Just Boot”.
STEP 8: Now head to Cydia then search for “SemiTether” and install the tool:
SemiTether
NOTE: The last step about SemiTether is optional for users. It will allow you to reboot your device without need to a computer to connect to. You’ll lose some functions like opening mail and almost all jailbreak tweaks. You can read morehere.
[ VIA cydiahelp ]