Just a couple of evenings ago Apple [AAPL] released a small update to developers for testing. The new update was numbered iOS 5.0.1 and is an attempt to fix the battery issues of iOS 5 which are most evident on the iPhone 4S and in some cases the iPhone 4. Not more than 48 hours later Apple has already released Beta 2 of the update.
It is unclear at the moment why Apple has released the second beta within just a couple of days, but it could be that beta 1 didn't fix the issues or that Apple is keen on getting this update out.
The update is relatively small and fixes the aforementioned battery issues as well as the iPad 2 cover PIN lock security issues. It also adds gesture support for the original iPad (something that was strangely missing when iOS 5 launched).
We don't know when Apple will release the final version of iOS 5.0.1 to the masses but expect it within one to two weeks at the most assuming that results from tests are positive.