Apple has just released iOS 5 Beta 5 to developers for download. Alongside the new firmware comes Xcode 4.2 Developer Preview 5 and iTunes 10.5 beta 5. To update OTA, you must first erase all content and settings on your device. The delta update is 128MB.

To install iOS 5 beta 5 using over the air software update, you must first erase all content and settings on your device by choosing Settings > General > Reset > Erase All Content and Settings. Over the air software update can be initiated on devices running iOS 5 beta 3 and later by choosing Settings > General > Software Update.

Monster release notes and changes, below:

Notes and Known Issues

The following issues relate to using the 5.0 SDK to develop code.