FireCore have released an update to Seas0nPass taking it to version 0.8.4.

Seas0nPass

Here is what they said:

Adds [tethered] support for ver. 5.0.1 (iOS 5.1.1) on ATV2. ATV3 update still in progress.

As always, Seas0nPass is available as a free download from Seas0nPass.com.