How to acknowledge updates count on iPhone? When there is a new update on the iPhone, I get a number next to Settings, emails or App Store icon.

I like to see the count when something changes but when I've checked it, I would like it to disappear.  For instance, I know there is an update for iOS 5.1.  But as my iPhone is jailbreaked, I want to wait until the jailbreak is done (which can take weeks or even month).  That said, each time I login my iPhone, the first thing I see is this red circle displaying '1' to tell me "hey check here, we have something new!".

Is there a way to acknowlegde it to stop displaying it ?
There is no built in mechanism in iOS that will clear this, except installing the updates. 

For jailbroken devices there is an app called Update Hider.