It looks like they've done it already. Picked this one up via MacRumors who says that iPhone Dev Team published a screenshot of what looks like a jailbroken iPhone 2.0 installation. Apple has only released the beta of 2.0 to a limited number of developers, particularly those entering the company's developer program ($99/year).

"The iPhone Dev Team, who rumor has it just last night got ahold of the new firmware that ships with the SDK (1.2, which will be released to public as 2.0), has already decrypted the disk image and jailbroken the firmware," says poetic_folly up on modmyifone.com.

"This image shows screenshots of apps running on the 1.2 firmware, which requires a dev certificate to do normally, although none have yet been issued. The jailbreak currently only works with hacked activation, meaning it won't work with AT&T iPhone's yet. However, come on, this is like 2 hours ago it happened, you AT&T folk won't be left in the cold," the post ends.

iPhone firmware 2.0 is due out this June, bringing tons of new features and enhancements. One worth mentioning in particular is the App Store, which Apple will be using to distribute all apps coming from everyone eager to throw something at the device. There are limitations of course. A jailbroken 2.0, however, might just bypass those limitations, so although the vast iPhone developer community has received somewhat of a blow with this SDK, it doesn't mean the hacking will stop here.

Another announcement related to the iPhone 2.0 software update is Apple's plans to include support for a bunch of requested enterprise features. Those are Push email, Push calendar, Push contacts, Global address list, Cisco IPsec VPN, Certificates and Identities, WPA2 / 802.1x, Enforced security policies, Device configuration, Remote wipe and Active Sync and Microsoft Exchange support.

Apple promises to make these features available to iPhone and iPod touch users in June, when the company plans to roll out firmware 2.0 for both its touchscreen portables, the iPhone and iPod touch. The 2.0 firmware update will be free to iPhone users, while a nominal fee will be charged to iPod touch users.