You can download reRABn0w 0.9.10b3 and ios 5.0.1, and create a custom ipsw through reRABnow (extras section).
Then you use reRABn0w-extras- PWNED DFU to set your device to dfu mode
Then open itunes and hold down shift while you click on restore, and choose the custom ipsw you created in the pop up window.
Once your phone is restored, you run reRABn0w-jailbreak and install cydia, and this will jailbreak and hacktivate your phone (activate it without the official carrier's sim card)
When a window pops up, you tick "install cydia" and "install ipad baseband" (because its better to re-flash it). And when the process is done, you go to cydia and install ultrasn0w and should be good to go.