When iOS 7 comes out on Wednesday?

How do I update my iPhone 5? Will it do so automatically?

It will generally notify of you of the update and ask you if you want to update.

Do it through a computer. If you do it over wi-fi it could take hours even on the best networks due to the amount of traffic and you can't use the phone during that time.

I don't know. But people at my school already have it. Look into it

Plug it in to itunes

You go into settings click on general and click on software update and it will tell you if your phone is upto date or not. If ios7 is available you can download it