Created a small Python script to download the latest hosts file from mvps.org and add the changes (or replace previously added) to /etc/hosts.

Myself I have the script scheduled for daily updates every night with Alarmed, and also on my home Ubuntu via Cron.

[edit: dead blog lnk removed]

More on ad blocking via a hosts file on Maemo: http://wiki.maemo.org/Ad_blocking

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Edit: script in github: https://github.com/jaywink/gethosts