You can update your iPhone, iPad or iPod Touch directly by connecting to your device to the internet and going to Settings>>General>>Software Update. Alternatively, if you wish to download the IPSW firmware file, below are the direct links for iOS 5.0.1
Apple has released the first update of the original iOs 5 i,e iOS 5.0.1 to the public for iPhone 4, iPhone 3GS, iPad 1, iPad 2, iPod Touch 3G and iPod Touch 4G. This update fixes many bugs including battery drain issue, iPad smart cover security issue and inclusion of multi touch gestures to the iPad 1.
Please note that if you device relies on jailbreak, then you should wait until there is jailbreak for iOS 5.0.1.