Apple has released iOS 5 beta 5 for iPhone, iPad, and iPod touch to developers. Like the previous update, iOS 5 is being offered over-the-air (OTA) so tap Settings on your device, go to General, and hit Software Update, and watch it do its magic.
As mentioned in the comments, Apple is officially recommending you wipe your device before updating:
We've had a couple of successful updates without wiping, however. Apple may just want to have devices returned to a known state prior to update as a best practice. Ignore it at your own risk.
No word on changes yet. More as this develops.
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Rene Ritchie is one of the most respected Apple analysts in the business, reaching a combined audience of over 40 million readers a month. His YouTube channel, Vector, has over 90 thousand subscribers and 14 million views and his podcasts, including Debug, have been downloaded over 20 million times. He also regularly co-hosts MacBreak Weekly for the TWiT network and co-hosted CES Live! and Talk Mobile. Based in Montreal, Rene is a former director of product marketing, web developer, and graphic designer. He's authored several books and appeared on numerous television and radio segments to discuss Apple and the technology industry. When not working, he likes to cook, grapple, and spend time with his friends and family.