It’s going to be three months already since iOS 5 was released and still many of us are waiting for a jailbreak. That day is getting closer for iPhone 4 owners, hacker pod2g will soon release his untethered jailbreak for iPhone 4; iPhone 4S and iPad 2 owners will have to wait longer. Thanks to pod2g, we can see the untethered jailbreak functioning on an iPhone 4 running iOS 5.0.1, in a YouTube video he posted on his blog.

This is what pod2g had to say:

Hello,

Here is a new video demo of the current status of the 5.0.1 jailbreak running on an iPhone 4.

This is meant to reassure people that were thinking it only works on older iPods.

The jailbreak is near ready for prime time (excluding 4S and iPad 2).

Patches are the same as redsn0w’s. Expect the same level of stability.

Some more days to wait. Be patient, we’re doing our best.

~pod2g

Hopefully, the jailbreak will be available by Christmas or before the end of this year.