iTunes 10.5 is now available to download from the Apple site. Updates include support for iOS 5 (due tomorrow October 12th),  iTunes in the Cloud,  Wi-Fi Syncing. Automatically sync your iPhone, iPad, or iPod touch with iTunes any time they’re both on the same Wi-Fi network. The update has not appeared yet on iTunes, only on the Apple site

 

Apple’s change log states:

What’s new in iTunes 10.5

  • iTunes in the Cloud. iTunes now stores your music and TV purchases in iCloud and makes them available on your devices anywhere, any time, at no additional cost.
  • Automatic Downloads. Purchase music from any device or computer and automatically download a copy to your Mac and iOS devices.
  • Download Previous Purchases. Download your past music, TV, app, and book purchases again, at no additional cost. Previous purchases may be unavailable if they are no longer on the iTunes Store.
  • Sync with your iPhone, iPad, or iPod touch with iOS 5.
  • Wi-Fi Syncing. Automatically sync your iPhone, iPad, or iPod touch with iTunes any time they’re both on the same Wi-Fi network.
EDIT: If you install this version of iTunes then you can get hold of iOS 5 early (the final version). Check out lifehacker here: http://lifehacker.com/5847135/upgrade-to-ios-5-right-now