Apple has update its mobile application recently, now we are presented with iOS 5.1.1 Build 9B20B for the iPhone 4 GSM only. What you need to do now, do nothing but wait for both dev team or Pod2G words.
Update: But a good news, comes that iOS 5.1.1 Build 9B20B already been jailbroken using Absinthe 2.0.2 with just been released. Therefore go download Absinthe 2.0.2 from the following download links based on your OS.
Here is the Download link