iPhone Dev Team member MuscleNerd has announced on his twitter feed that Cydia creator Saurik and jailbreak dev Chpwn are hard at work on a Cydia update just in time for the release and jailbreak of iOS 4.2.

What changes are coming, if any, have not been specified but loading speed reduction and user reviews have long been rumored. What changes would you like to see? Let us know by leaving a comment or discussing it in our Jailbreak Forum!