There is more good news for those awaiting an untethered iOS 5 jailbreak, with Pod2g announcing in his blog that it works for Apple TV 2.

In November, Pod2g warned iPhone owners not to update to iOS 5.0.1 if they planned to jailbreak their phones. An important exploit was closed by Apple after a security flaw was publicized by security experts. The security flaw is not a huge risk and will be patched by developers through Cydia if the jailbreak is released to the public.

It was only a few days ago that iOS developer and hacker Pod2g showed off his new untethered jailbreak exploit running on iOS 5. At that time, he tested it on a third-generation iPod touch running iOS 5.0 and wasn’t sure if it would also work on the new iOS 5.0.1.  But he did promise to test it on iOS 5.0.1 and report on the results. On testing the exploit on his iPhone 4 running the latest iOS 5.0.1 firmware, he has confirmed via his Twitter account that it indeed works, which ultimately means that you are now free to update your A4-based iOS devices to iOS 5.0.1.

The present development of untethered jailbreak for Apple TV 2 4.4.3, which is based on iOS 5.0.1, will mean that it is just a matter of days before Pod2g releases it.

There are still no known jailbreaks for the iPhone 4S, though the iPhone 4, iPhone 3GS, iPad 1 and the third- and fourth-generation iPod Touch all have been jailbroken on iOS 5.0.1. Meanwhile, several entities, including the Chronic-Dev Team, are continually trying to stay a step ahead of Apple, searching constantly for loopholes and exploits in the iOS code that will allow iOS-based devices to be jailbroken.