FireCore Devs team has just release Seas0nPass to bring Untethered Jailbreak Apple TV 2G On iOS 5.0.1 (9B206F) firmware. Seas0nPass makes use of pod2G’s iOS 5.1.1 untethered jailbreak, which was released earlier today. After jailbreaking Apple TV 2 users can install aTV Flash (black), which adds new features to the Apple TV 2G such as web browsing, Last FM access, support for HTML5 video sites, stream media from most NAS devices and many more.
According to FireCore;
Today we are happy to release a brand new version of Seas0nPass that provides an untethered jailbreak of the latest 5.0.1 (iOS 5.1.1) software for the 2nd gen Apple TV. Massive thanks goes to @pod2g and Co. for the countless hours that went into making this new release possible.
Additionally FireCore also mentioned this;
Unfortunately Seas0nPass is not yet compatible with the new ATV3. Work is still ongoing and we’ll be sure to announce any and all news as soon as it becomes available.
Users can download updated Seas0nPass from the FireCore official blog.