iOS 5 finally allows users to set custom tones for messages, tweets, voicemails, emails, calendar and Reminder alerts.

So in addition to pre-installed tones, Apple has launched a new store within the iTunes Store called the Tone Store where you can buy Alert tones.

Apple announced:

The iTunes Store on your iPhone, iPad, or iPod touch now includes the Tone Store — an incredible spectrum of music ringtones and alert tones that can be assigned to any alert setting on your iPhone, iPad, or iPod touch.

Apple has been selling Ringtones ever since 2007, but Alert tones are being sold for the first time thanks to the introduction of the iOS 5 feature. Ringtones are available for $1.29 and alert tones are available for $0.99 in the Tone Store.

There are two ways to get to the new Tone Store. You can either launch the iTunes app and then tap on More tab at the bottom, where you should see Tones as one of the options or you can launch the Settings app and go to Sounds and tap on the relevant alert for which you want to set an Alert tone and swipe up, which should show you the “Buy More Tones” option, tapping on it, opens the iTunes app with the Tones Store.

Update: 

Please note thought we have mentioned iOS 5 in the post, the Tone store is not an iOS 5 only feature, it is also available on iOS 4.x.x as well. But the only way to access the Tone store is via the iTunes app.

Do you plan to buy tones from the iTunes Store? Let us know in the comments.