Comex’s JailbreakMe 3.0 is currently the only jailbreak to work with the iPad 2 computer tablet, but it looks like that exploit will have to make room for the iPhone Dev-Team’s upcoming iOS 5 jailbreak. Although there’s still “lots of work left,” the untethered exploit will support Apple’s second-generation tablet.

“The good news is that the iPhone Dev-Team is hard at work on developing a jailbreak solution for the iPad 2 under iOS 5… A second generation iPad running iOS 5 has indeed been jailbroken, though as MuscleNerd notes, this is a very preliminary’ solution. There are ‘lots of hurdles left, no ETAs,’” reports Joe White in an article posted Friday on AppAdvice.

MuscleNerd is one of the more prominent members of the iPhone Dev-Team renowned for its top-notch jailbreaks of the iOS mobile operating system. Comex’s exploit was released in June and quickly caused problems for Apple, who had gone to great lengths to make the iPad 2 as secure as possible.

“Currently, the iPad 2 can be jailbroken using the Web-based JailbreakMe solution. However, this does not support iPad 2 devices running iOS 5 (the highest version JailbreakMe supports is iOS 4.3.3),” White notes. “Furthermore, while a tethered jailbreak solution is available for iOS 5 devices, this doesn’t support the iPad 2 or the iPhone 4S.”