via http://wololo.net/2012/12/04/vhbl-running-on-vita-2-01/

This will not come as a big surprise for those of you who know how these things work, but it’s always nice to have a confirmation: VHBL still runs fine on Vita’s firmware 2.01, and The Z proves it to us with a video.

The video showcases Frostegater’s latest port of VHBL to an unknown usermode exploit in a PSP Game. On the video we can see VHBL running Zelda on Masterboy (Game boy and master system emulator), Wagic (Collectible card game), and PSPFiler (File manager for the PSP).

This is most likely the same version that was running a few days ago on 2.0, as we can safely assume Sony did not patch any undisclosed vulnerability with 2.01. There is still no word on a release yet, and it is still unclear if Frostegater will focus on a VHBL release or work on his own port of Total_Noob’s CEF, since he seems to also be in possession of a PSP Kernel exploit. As a reminder for those who just joined us, we had a PSP Kernel exploit available up to 1.81, but that got patched in 2.0. At this point we still have lots of usermode exploits that should allow fairly easily to port VHBL (which gives us access to limited PSP homebrew compatibility), but PSP kernel exploits are a treat which is much more difficult to find.