No. It's expected to come out in October with the release of the iPhone 5, and or the iPhone 4S as a cheaper version of the iPhone. but it is if you jailbreak your iPhone but it's a beta not the full version of iOS 5. Hope this helped you!
I don't think so. I think it's going to be later in sept. or oct. I have it to where it will send me an email when it is out. I am excited about it!! =)