Chronic Dev Team member pod2g is working on an untethered jailbreak for iOS 5, according to a recent tweet.
In the tweet, he said the following:
Hey jail breaking friends, I’ve found a bug that can untether iOS 5. Don’t expect a release soon, but I’m gonna work hard in [sic] it.
As you see, there is no ETA for the jailbreak. Currently, the iOS 5 jailbreak is tethered only, which means that you must plug your device directly into your computer each time you boot it, or you may not be able to use your jb software. Luckily, there is a semi-tehtered jailbreak solution, which makes it so that it’s still possible to use your iPhone after rebooting, but without jailbreak software. This is better than the alternative, which made it impossible to use your iPhone at all.
Those who want to jailbreak their iPhone on iOS 5 must go with redsn0w or sn0wbreeze (Windows).