Pod2g has just tweeted some interesting information regarding the A5 jailbreak. Apparently, pod2g has made good progress on the jailbreak for A5 devices and claims that if lucky, we could expect it in a week!
I made a step today for the A5. With some luck we could expect a release in a week.
Keep in mind though, there are still some roadblocks ahead and the ETA can always get pushed back. In the meantime, you can jailbreak any pre-A5 device on 5.0.1 using our jailbreak wizard located here.