There is a new update that is ready and will be rolling out soon for the Droid Bionic. The new 5.9.905 version is not Ice Cream Sandwich sadly, but it does bring with it improved LTE connectivity amongst a few other things. Here's the list:
  • Recalibrated volume of the call connect and disconnect tones to be more comfortable for Bluetooth users.
  • Improved Visual Voice Mail to ensure delivery of a notification to the Status Bar.
  • Reduced data stalls to improve 4G LTE connectivity.

There is no word yet on when the update will start rolling out OTA, but it will supposedly be pretty soon. We will keep an eye out for you.

Thanks for the tip, Dave12308!

Source: BionicForums.net via VZW