Some encouraging news was revealed this morning via Twitter for all of you dying to have an iOS 5 untethered jailbreak. It appears that Chronic Dev Team member pod2g has found a bug in iOS 5 that will make it possible for an untethered jailbreak.

The team of hackers already confirmed to have found multiple exploits in iOS 5, but this is the first news that we’ve had in a while regarding the progress of an untethered jailbreak…

As you can see from the tweet, pod2g isn’t giving any ETA’s for a successfully packaged untethered jailbreak, so we’re all just going to have to be patient. Finding an exploit is one thing, packaging it into a useful jailbreaking utility that end users can use is a whole different story.

As of now, iOS 5 can be jailbroken, but it’s a tethered jailbreak which requires you to use a computer to successfully boot your device should it reboot. It’s not as horrible as some make it out to be, but it’s certainly an inconvenience should you encounter a reboot while out and about.

To learn more about tethered and untethered jailbreaks, check out our detailed synopsis of the different types of jailbreaks.