Update: Please notice that the iOS 5.0.1 upgrade via iTunes is around 790MB but if you do the over-the-air update directly from your device, it’s only 44.6MB.

Go to Settings > General > Software Update to do the over-the-cloud upgrade.

Apple released on Thursday its iOS 5.0.1 that should finally fix the battery issues that iOS 5 users have reported.

In addition to improving the battery life, iOS 5.0.1 will re-enable the multitasking gestures for the original iPad as well as fixing some general iCloud bugs.

You can either update your device via iTunes by clicking the Update button or you can do it over-the-air directly from your device by going to Settings > General > Software Update.

WARNING FOR JAILBREAKERS: if you upgrade to this last version of iOS 5.0.1 you’ll no longer be able to have an untethered jailbreak.

These are the direct download links from the Apple servers:

•  iPhone 3GS
• iPhone 4 GSM
•  iPhone 4 CDMA
•  iPhone 4S
•  iPad
•  iPad 2 WiFi
•  iPad 2 AT&T
•  iPad 2 Verizon
•  iPod touch 3rd gen
•  iPod touch 4th gen