If you’re a developer and you’ve taken the plunge to update to iOS 5.0.1 beta, we confirmed earlier that you can jailbreak the bleeding edge firmware.

Now we’ll show you how to jailbreak iOS 5.0.1 on video using RedSn0w. You will need your iOS 5.0 firmware, since RedSn0w has not been updated to recognize 5.0.1 yet.

Other than that small little detail, jailbreaking iOS 5.0.1 with RedSn0w is a cinch…

How to jailbreak iOS 5.0.1 beta

Step 1: Download iOS 5.0.1 (developers) and ensure you have the public iOS 5.0 available as well. You can grab iOS 5.0 from our downloads page.

Step 2: Open RedSn0w 0.9.9b7 (download here) and select Extras > Specify Firmware > and point it to the iOS 5.0 firmware. It should identify the 5.0 firmware without error.

Step 3: Go back to the main screen of RedSn0w and place your device into DFU mode. Click Jailbreak, and then select Install Cydia.

Step 4: Your device should jailbreak, but your Cydia icon will be white due to it being a tethered jailbreak. Place your device back into DFU mode.

Step 5: Again, from RedSn0w’s main page, select Extras > Specify Firmware > and point it to the iOS 5.0 firmware. It should identify the 5.0 firmware without error.

Step 6: Select “Just Boot” from RedSn0w’s Extras menu, and it should perform a tethered boot on your device.

Congratulations, you just jailbroke iOS 5.0.1. For a more comprehensive RedSn0w guide, head over to our RedSn0w page.

Were you able to jailbreak successfully?