Is it possible to downgrade iOS 5.1 to iOS 5.0.1?

I know iOS 5.1 became available today and I downloaded it by accident. I need to downgrade to iOS 5.0.1 because there is no jailbreak for iOS 5.1 and I need to jailbreak my phone. Please help. :(
Answer:

if you save your shsh blobs for IOS 5.0.1, then you can definitely downgrade your device to 5.0.1. Assuming you are not an iPhone 4S or iPad2 user.

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Other answers

Yes you can downgrade you IOS 5.1 to IOS 5.x or IOS 4.x , for iPhone 4 , iPhone 3gs , iPad 1 and iPad 2 look here http://www.iphone4g-pro.com/downgrade-iphone-4-ios-5-1-a-ios-5-0-1-ou-ios-4-x-t12344.html

Sorry, but there is no way to downgrade. You'll just have to wait for another jailbreak. A word of advice, next time you do anything with itunes, always pay attention to the caption on the status bar, you usually have plenty of time to cancel your upgrade while it's downloading.

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