Apple released iPhoto app for iPad and iPhone along with the release of iOS 5.1
iPhoto app is a Photo-editing app with awesome features such as gestures, effects, multi-touch editing and more and requires iOS 5.1 to work.However, if you are using iOS 5.0.1 on your device then in this post you will find how to install iPhoto on iOS 5.0.1.
Recommended Reading: Install iPhoto App On iPad 1 (How To)

How to install iPhoto on iOS 5.0.1
1. In the first step SSH into the jailbroken iPhone or iPad using a client such as FileZilla or CyberDuck.You can also use the iFile from Cydia to quickly access your jailbroken iPhone or iPad.
2. Go to /System/Library/CoreServices scroll to the bottom and then open SystemVersion.plist with a text editor.
3. The .plist file has
4. Save the edited .plist file and then exit. After that respring the device.
For those who are unaware Respring is done through SBSettings by hitting the Resping button which lets you to restarts your iPhone Homescreen.
5. Download iPhoto app from the App Store.
6. Launch Cydia and search for ‘iPhoto501Fix’ and install it.It is required that you first install iPhoto app before installing iPhoto501Fix from Cydia.
7. Respring your device again and run iPhoto app which will scan photo library and provide you with full access to the application.
Thanks for this, i was interested in buying Apple´s iPhoto app for iPad but didnt have enough info about it or the the iOS 5.1, this post has really helped…..thanks