There is more good news for those awaiting an untethered iPhone jailbreak, with Pod2g announcing in his blog that it was tested on the 3GS successfully.

He posted, “iPhone 3Gs 5.0.1 jb worked. Remaining to test: iPod 4G & iPhone 4 CDMA running 5.0.1.”

It was in November that 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.

A few days ago iOS developer and hacker Pod2g showed off his new untethered jailbreak exploit running on iOS 5. At that time, he had 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.

The present development of untethered jailbreak for iPhone 3Gs will mean that it is just a matter of few days before Pod2g releases it.

There are still no known jailbreaks for the iPhone 4S. 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.