PSP 5.03 Firmware Update to Allow PSP-3000 to Run Homebrew?

PSP owners today can get a minor firmware update (5.03) that will patch the GripShift exploit, which can potentially allow PSP-3000 systems to run homebrew. The update also improves system software stability during use of some features. The official changelog for the update states "a security patch was added to address security vulnerabilities in the system software."

The update only takes a couple of minutes to download and install. Be sure to have your PSP fully charged and head on over to the Network Update on your PSP to grab it while its hot!