iOS 5 devices finally receive Untethered Jailbreak : No Luck for iPhone 4S and iPad 2

iPhone and other iOS device users on iOS 5.0.1 will begin to rejoice as Untethered jailbreak for their devices is finally here. Just weeks after an exploit for untethered jailbreak was found for iOS 5.0.1, it has been incorporated into RedSn0w 0.9.10, the Pwnage Tool and Chronic Devteam’s Cydia package.  This will work on iPhone 3GS, iPhone 4 (including the CDMA version), iPad 1, iPod Touch 3G and iPod Touch 4G, so long as they’ve been updated to iOS 5.0.1.

Steps are simple

1. Head over to the Dev Team page here and download the RedSn0w for your OS (Mac/Win)
2. Make sure your device has been updated to iOS 5.0.1 
3. Run Redsnow on your PC or Mac and Follow instructions.

Meanwhile pod2g who found the initial exploit, is also reportedly searching for a solution for iPhone 4s and iPad 2.