FireCore has just released a new version of Seas0nPass that provides an untethered jailbreak for Apple TV 2 5.0.1 (iOS) 5.0.1. The new Seas0nPass uses pod2g‘s untethered exploit and has been successfully tested by nitoTV. Most of the plugins, like XBMC, Plex, Media Player, nitoTV, Rowmote, Last.fm, Couch Surfer and Weather are currently supported on 5.0.1. Only Remote HD and Overflow are not yet working and require an author update for 5.0.1 compatibility.
UPDATE: It’s out! You can jailbreak your Apple TV 2 running the latest 5.0.1 firmware by following this tutorial.
Finally, we have some good news for you. Although there is still no sign of Apple TV 3 jailbreak, it seems that Apple TV 2 owners will soon be getting an untethered jailbreak for their black boxes updated to the latest Apple TV 5.0.1 firmware.