diff --git a/CHANGELOG.md b/CHANGELOG.md
index 4b415290..fb92b9e9 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,13 @@
 
 All notable changes to this project are documented in this file.
 
+## 0.5.1
+
+**Release date:** 2020-12-09
+
+This prerelease fixes a bug in the build process that caused the
+ARMv7 build to fail due to `libgit2` requiring `musl>=1.2.0`.
+
 ## 0.5.0
 
 **Release date:** 2020-12-09
diff --git a/config/manager/kustomization.yaml b/config/manager/kustomization.yaml
index 4cc60722..2aad0e66 100644
--- a/config/manager/kustomization.yaml
+++ b/config/manager/kustomization.yaml
@@ -6,4 +6,4 @@ resources:
 images:
 - name: fluxcd/source-controller
   newName: fluxcd/source-controller
-  newTag: v0.5.0
+  newTag: v0.5.1
diff --git a/go.mod b/go.mod
index 9f5a591e..0230305b 100644
--- a/go.mod
+++ b/go.mod
@@ -15,7 +15,7 @@ require (
 	github.com/fluxcd/pkg/ssh v0.0.5
 	github.com/fluxcd/pkg/untar v0.0.5
 	github.com/fluxcd/pkg/version v0.0.1
-	github.com/fluxcd/source-controller/api v0.5.0
+	github.com/fluxcd/source-controller/api v0.5.1
 	github.com/go-git/go-billy/v5 v5.0.0
 	github.com/go-git/go-git/v5 v5.2.0
 	github.com/go-logr/logr v0.2.1