Hot on the heels of the iFaith update from iH8sn0w that made iOS 5 SHSH blobs usable, the DevTeam is working on updating RedSn0w to do something similar.

Just a few minutes ago, iPhone DevTeam member MuscleNerd tweeted that an upcoming release makes both TinyUmbrella and Cydia blob saves useful for iOS 5.0+. This is great news for would be downgraders…

Thus far, iFaith is the only tool that you can currently use to downgrade iOS 5.x devices, but not for much longer.

Similar to what iFaith does, the new version of RedSn0w will allow you to stitch IPSW firmware files with SHSH blobs and APTicket to allow ones to downgrade to previous versions of iOS 5.x.

Stay tuned, we’ll be back with more coverage once the latest and greatest version of RedSn0w touches down.