Update to 5.01

[ValK]

Hey guys I decided to update my ipod. I have a 3rd Generation ipod touch on 3.12 and I used blackra1n to tether it. I want to get to 5.01 so its untethered. Is it possible to update to 5.01 or is my only option to go straight to 5.1?

 

[3cit]

Assuming you've visited cydia you will have "blobs" saved for your device so you can jump to 5.0.1 using tiny umbrella

 

[ValK]

I'm getting 1604 error while restoring it turned on and a 2005 error with it in DFU mode. What am I doing wrong?

Edit:
I updated Cydia which was using a 2009 version. The SHSH on top only go up to 4.2.1.