Pod2g has posted a demo video to show that he has jailbroken New iPad running on iOS 5.1 untethered. Earlier, this week Pod2g confirmed that he has performed untethered iOS 5.1 jailbreak on his iPhone 4.
Pod2g state that he is “stabilizing the payload” and then he will try to jailbreak New iPad on iOS 5.1.1.

Watch video of New iPad(iPad 3) Untethered Jailbreak on iOS 5.1
The video shows untethered New iPad running Cydia and also iFile.
He has also has posted the credits for New iPad Jailbreak-
Credits :
- boot code execution exploit : @pod2g
- ASLR bypass exploit : @pod2g
- sandbox bypass exploit : @pod2g
- kernel vulnerability : @westbaer
- jailbreak : @pod2g
Thanks to :
@pimskeks @p0sixninja @xvolks @MuscleNerd @planetbeing @comex @0naj
Pod2g has however, not given ETA on when new untethered jailbreak will be released.