Download Redsn0w 0.9.9b8 to Jailbreak iOS 5.0.1 on Windows & Mac (Tethered)
Early today we had reported about Apple iOS 5.0.1 & iTunes 10.5.1 Beta 2 seed to developers. iOS 5.0.1 is aimed to fix the battery issue whereas iTunes 10.5.1 is about iTunes Match. Even though both the updates are only available to the users registered to Apple iOS Developer program, you may download iOS 5.0.1 & iTunes 10.5.1 Beta 2 from here.
Even though existing version of Redsn0w 0.9.9b6 is capable of jailbreak iOS 5.0.1 by just point to iOS 5.0 still Dev Team went ahead and updated redsn0w to support iOS 5.0.1 out of the box, which makes life easier for iPhone jailbreakers.
Please keep in mind this is tethered jailbreak and you must use tethered boot option every time you reboot your iPhone. Here is update from iPhone Dev Team,
Update #16: redsn0w version 0.9.9b8 will natively recognize the 5.0.1 beta that Apple let developers start testing this week (so you don’t have to play the “point at 5.0 IPSW” trick). Because the IPSW isn’t public, you’ll still need to provide it once to redsn0w (at which point it will cache all the important pieces so you don’t need to select it again).
For those 3GS and i4 users who preserve their baseband, the Mac version can also produce the NO_BB_* custom IPSWs for 5.0.1. (But please note that ultrasn0w doesn’t get updated for betas like this.)
This is still a tethered jailbreak for all except old-bootrom 3GS users.
Unlockers at any cost do not update to iOS 5 or iOS 5.0.1.