It's no surprise now that updating to a factory iOS5 firmware will update your baseband to 04.11.08 which is not currently unlockable either by Ultrasn0w or by Gevey SIM. A new SIM interposer hack is being developed by a company called Vold. This new Vold Miracle SIM is said to be able to unlock the 04.11.08 baseband on iPhone4 using this new hardware method.

So far, the SIM has not been released to the public but many websites point at a possible end-of-December release.

Unfortunately, since this is new hardware, the prices are reminiscent of the Gevey SIM when it was first released. At this point it looks like you will be paying around $100 before tax/shipping for this new hardware unlock. There are a few sites that offer pre-orders for this SIM but many of them are already sold out. Once we here more about this unlock and whether it will work or not, we will keep you updated on places where you can feel safe ordering from.