How to Untether Jailbreak iOS 5.0.1 for iPhone3GS,iPhone4,iPhone4-CDMA and iPad1

The new untethered Jailbreak has been released so today i am going to post that how to perfrom the jailbreak on your iDevices.
This is an untethered jailbreak for iPhone3GS, iPhone4, iPad1, iPod touch 3G, 4G and it will not work on the iPhone 4S or iPad2.
Step 1 – First Download redsn0w .
Download redsn0w for Mac
Download redsn0w for Win
Find 5.0.1 Firmware Here
Step 2 – Now Open redsn0w 0.9.10b1 and Run as Admin.

Step 3 – First Click on Extras and than Click on Select IPSW .

Step 4 –  Now select the corresponding firmware that matches with your iDevice .

Step  5 - Now Click on Back for go to the main screen and select Jailbreak.
Step 6 – Follow the instruction on screen to enter DFU Mode on your iDevice .

Step 7 – Now wait for redsn0w to finish the Jailbreaking process until it says : Done ! (Process may still continue on iDevice)
Step 8 – Thats It ! Enjoy your Untethered Jailbreak
DISCLAIMER : Please Try at your own risk and take Backup before Performing Jailbreak.