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The iPhone-Dev team released a new version of its unlocking tool – Ultrasn0w in the Cydia App Store. This update supports the iPhone 4 and iPhone 3G/3GS and is notably important because it supports iOS 5.0.1. As is the procedure, ultrasn0w requires a compatible baseband, so you might want to double check your modem version before proceeding.

For iPhone 3G/3GS supported basebands are 04.26.08 – 05.11.07 – 05.12.01 – 05.13.04 – 06.15.00 whereas iPhone 4 users will have to preserve the old 01.59.00 to unlock.

[Via Engadget]