I was going to do a full guide on how to do this but found a great guide already up on the interwebs. (What? You only have one?) This guide works for everything running iOS 5.0.1 (non A5) except your iPhone 4gs and iPad 2, ironically 2 of the 3 Apple products that I have. (and the third not running on iOS 5…)
I haven’t used the guide myself, so I won’t be able to provide support on it, but at least you know it exists!