Earlier today Apple released iOS 5.0.1 beta to developers which supposedly fixes a few bugs, including the battery problem we reported about last week.

If you’re a jailbreaker who just couldn’t resist updating to the new beta firmware, we have some good news for you. According to Dev Team frontman MuscleNerd, the latest version of RedSn0w can jailbreak iOS 5.0.1 beta

All you need to do is to use RedSn0w 0.9.9 beta 7 and point it to the iOS 5 IPSW, not iOS 5.0.1 beta. We assume the Dev Team will update RedSn0w as soon as or before iOS 5.0.1 comes out of beta and is released to the public.

As usual, this is a tethered jailbreak—with a semitether also available —and it will not work on the iPhone 4S or the iPad 2.

You can download RedSn0w from here, and follow our RedSn0w guide for details. Jeff will probably come up with a video as well, so stay tuned.