This has happened with many different releases and, unless VMware changed the path of the CDS Repository on there Software Update Server, the VMware Tools for VMware Player 5.0.1 have not yet been placed in the usual location on the Server. So you can either wait until VMware gets their act together again or you can extract the VMware Tools from a VMware Workstation 9.0.1 download.
Well what do you know, as I was writing this VMware finally placed the VMware Tools for VMware Player 5.0.1 on the Software Update Server so try again now.