MuscleNerd announced a few tens of minutes ago on Twitter that the new version of iOS 5 beta 2 expires on August 4/5, just like the version beta 1. Apple usually changes the expiration date of beta versions so that developers can use them until the GM version is officially released. Considering that we are only at the beta 2 version and the expiration date is set over a month away, Apple could very easily change the date for September, for example, in iOS 5 beta 3.
I don't think that the expiration dates of beta versions can be used to accurately determine the release date of a new version of iOS, but if Apple specified that the release of iOS 5 will take place in the fall, then we will surely have iOS 5 in the fall, the earlier in September.
