Alongside the first beta of iOS 5, Apple also released iTunes 10.5 beta for Mac – which is required to sync iOS 5 devices and enable more iCloud-related features than iTunes 10.3, also waiting for release.
As the changelog confirms, the new iTunes enables compatibility with devices running iOS 5 – we’ll update this story with more details as they come in.
Update: iTunes 10.5 brings some minor graphical updates that resemble Lion’s changes to system toolbar and buttons. In the Settings, a new preference panel lets you enable Automatic Downloads as we’ve seen earlier today on iOS devices.