There has been a desire for a jailbreak to be released for both the iPhone 4S and iPad 2 running on iOS 5. There seems to be major progress made in that process.

From iDB:

Hot on the heels of MuscleNerd’s status update on the iPhone 4S jailbreak, a short video of the iPad 2 has surfaced showing the tablet jailbroken and running Cydia on iOS 5.

No ETA has been given for the iOS 5 untethered jailbreak, but we can only assume that a jailbreak will be released for all devices at once, meaning that you’ll be able to jailbreak A5 devices like the iPhone 4S and iPad 2 as well as older generation iDevices…

While Musclenerd seems to have made the most progress towards a jailbreak so far, the Chronic Dev Team is also working on a jailbreak for the iPhone 4S and iPad 2 running on iOS 5 as well. While it doesn’t matter to us who finishes first, it seems as if Musclenerd has made the most progress towards a functioning jailbreak so far.

The jailbreak is far from being a public release as there is still a lot of packaging to do for the jailbreak so that jailbreak is easy for the general public.

Are you excited?