Updating to iOS 5.0.1 over the air might be something to try out if you are not jailbroken.Duncan33303 notices that when trying to update a jailbroken device you are given the error
Software Update Failed
An error occurred downloading iOS 5.0.1
This means you will have to download the close to a gigabyte file and update using iTunes. Keep in mind if you want an untethered jailbreak to stay on 5.0.