MuscleNerd has spoken. The Dev Team front man has tweeted that the latest version of RedSn0w will in fact jailbreak the just-released iOS 5.0.1 beta 2.

The jailbreak is still tethered, and you’ll need to point RedSn0w to the iOS 5.0/5.0.1 IPSW to perform the jailbreak for the time being…

Only two days after releasing the iOS 5.0.1 beta to developers, Apple seeded 5.0.1 beta 2 today in the iOS Dev Center. It’s currently unclear as to exactly why Apple pushed the update, but it can be assumed that beta 2 addresses the battery life bug that Apple acknowledged with the first 5.0.1 beta.

Who else is getting confused with all these betas? We sure are!