Jailbreak iOS 5.0.1

Now, there is finally a jailbreak for iOS 5.0.1 software. Although it is only in beta, it is still a jailbreak. It is tethered, meaning that whenever it powers off, you lose your jailbreak. Safari doesn’t open, and neither does Cydia. This tethered jailbreak is Ac1dSn0w. But there are other jailbreaks for iOS 5, like Sn0wBreeze or RedSn0w. But the good thing about Ac1dSn0w is that it is that you can jailbreak your iPhone or iPod touch on Apple OS X Lion, while most only allow it on OS X Snow Leopard, but Ac1dSn0w runs on both.
Happy Jailbreaking!
UPDATE: this violates Apple copyright code, therefore it is illegal. Just a heads up.
Source: Phones Review