The Mint has released the 2005 design for the nickel. A revamped image of Thomas Jefferson and the word "Liberty" in Jefferson's handwriting appear on the front. The back side will have either an image of a buffalo or Lewis & Clarke's view of the Pacific Ocean. Of note, CNN says that a new nickel design was used for 2004, but I haven't noticed it.
Update: Yep, I've seen the 2004 nickels. My bad.