If it doesn't already come with it then go to iTunes and when your iPod comes up click "Check for Update" Then the proper update will download and install. If you already have iOS 5 and you want iOS 5.0.1 Then you can update directly from your iPod by going to Settings>General>Software Update to auto check for update.
no
yes, you can
there isn't a 5th generation iPod touch
Anyone who has a ipod touch 4th gen.
only in ipod touch 4th gen
a camera
No
Ipod toch does have itunes on it.
yes but you have to pay a little extra
4th gen has a camera.
Either the iPod nano or the iPod touch 4th gen+. you could also get an iPhone or iPad 2nd gen+
Well, after the nano chromatic (Nano 4th gen) the shuffle 3rd gen was released. It is speculated that the next iPod will be an iPod touch/ iPhone 3rd gen coming out late June or July. ~Griffin There is the chromatic ( Nano 4th gen) and there is a ipod touch, iphone, and the new ipod nano th generation with a camera.