I want to unlock my IPhone 5. It is running on 6.1.1 and jail broken. Do I have to update to 6.1.3 and loose my jail break to unlock it via the IMEI unlock?
No. IMEI unlocks do not require an update. In most cases after it's been processed, a simple reboot will do. Otherwise, you can de-activate the device and re-activate it again and it'll go through