Ahh I was just hit by this bug 5 minutes ago =.=. Using iOS 5 with semi tethered jailbreak. Suddenly my phone was in searching searching.

Tried to respring my phone via sbsettings. Managed to get maxis line but cannot call in or out. I removed my sim card, didn't work also because it still shows I have Maxis line.

Following that I respring without a simcard, it shows no sim then I inserted my sim still showing no sim =.=.

Last I respring my phone with sim, it shows Maxis line. I turned into aeroplane mode, turn on 3g and data then magically it came alive. After it was working the phone then ran all my previous calls and misscalls. Now everything is fine gonna monitor it.