As noted on Soma’s blog: VS 2005 SP1 is released!
For details, see Visual Studio 2005 SP1.
You’ll find four links at the bottom of that page. There are separate downloads for Team Suite, Team Foundation Server, and the Visual Studio Express Editions. The Team Suite download includes the SP1 bits for Standard, Professional, and Team Editions of Visual Studio. In addition, you’ll find a link to a beta of the Visual Studio 2005 SP1 Update for Windows Vista. However, it probably won’t be available until sometime on Friday.