The latest update of UltraSnow is available on Cydia brining support for iOS 5.0.1. As you know, the update is only unlock already unlockable basebands, but without the iOS 5.0.1 fixer.
The supported basebands:
iPhone 4: baseband 01.59.00
Again, you will need a jailbroken iPhone 4 or 3GS using the latest RedSnow version 0.9.9b9.
Step 2: After the jailbreak procedure has finished, launch the newly installed “Cydia” application that is present on your iPhone’s Springboard.
Step 3: The required repository comes as default with Cydia, but for education purposes to add a repo you will need to tap on “Manage” tab, followed by “Sources” and then finally select “Add”. After completing those steps an alert will pop up with the title “Enter Cydia/APT URL”.
Step 4: Add the following URL into the pop up alert – http://repo666.ultrasn0w.com – then select “Add Source”.
Step 5: After Cydia has finished refreshing and adding packages, tap on the above mentioned repo and install the Ultrasn0w utility. Congratulations, you are now the owner of an unlocked iPhone.
Let us know in case you need any help.
[Via]