This is great news guys. Just ahead of today’s official iOS 5 release, Dev-Team’s @MuscleNerd has just tweeted that their team is working to merge PwnageTool inside the next redsn0w update. He also posted a screenshot with the tweet showing a new button added to the redsn0w menu which allows you to create a custom iOS 5 .IPSW firmware file which will preserve your current iPhone baseband. The tool will be released for both Mac and Windows users. Though he didn’t give any ETA, but it shouldn’t be long before its released to the public.

Here’s the tweet:

We’re adding most popular PwnageTool usage into redsn0w (for Windows+Mac). First up: removing BB update http://twitpic.com/6z6u0y

So if you rely on a carrier unlock on your iPhone 3GS / iPhone 4 with ultrasn0w, then this is the best news we can give you ahead of today’s iOS 5 public launch. We’ll be sure to let you know the moment PwnageTool+redsn0w update is available for download. Stay tuned!