Apple has just released iOS 5.1.1 (build number 9B206).

iOS 5.1.1 is available for iPhone 4S, iPhone 4, iPhone 3GS, iPod Touch 4th generation, iPod Touch 3rd generation, the original iPad, iPad 2 and the new iPad (iPad 3).

According to the release notes, iOS 5.1.1 includes the following improvements and bug fixes:

Improves reliability of using HDR option for photos taken using the Lock Screen shortcut

Addresses bugs that could prevent the new iPad from switching between 2G and 3G networks

Fixes bugs that affected AirPlay video playback in some circumstances

Improved reliability for syncing Safari bookmarks and Reading List

Fixes an issue where ‘Unable to purchase’ alert could be displayed after successful purchase

Unfortunately, there is no mention about bug fixes for battery life issues reported by users.

As usual, jailbreakers should avoid updating to iOS 5.1.1 and also don’t forget to take a backup of SHSH blobs and BBTickets. You can check out this post for more details.

If you don’t care about jailbreaking, then you can install the update via over-the-air update or via iTunes and let us know how it goes. We’ll let you know if we find anything interesting the latest iOS software update so stay tuned at iPhone Hacks or join our Facebook Fan page or follow us on Twitter or add us on Google+ or subscribe to our RSS feed.

Update 1:

Updated the post with the details provided in the release notes.

Update 2:

Here’re the direct download links for iOS 5.1:

Update 3:

Redsn0w can still be used to jailbreak iPhone 4, iPhone 3GS, iPad 1, iPod touch 4g and iPod touch 3G by manually selecting iOS 5.1 (yeah, not iOS 5.1.1) firmware file from Extras. We’ll let you know how to jailbreak shortly.

Update 4:

Dev team has also warned jailbreakers to avoid updating to iOS 5.1.1. Check out this post for more details.

Update 5:

iPad 3 running iOS 5.1.1 has already been jailbroken and it is still possible to downgrade from iOS 5.1.1 to iOS 5.0.1 using the unreleased technique that ih8sn0w had discovered. Check out this post for more details.