Yes, it is supported in NX-OS 5.0. Nexus 5000 platform supports N port identifier virtualization (NPIV) and N-Port Virtualization(NPV) SINCE NX-OS 4.0 version. Nexus 5K supports two modes. By default, Cisco Nexus 5000 and 5500 Series switches operate in fabric mode, in this mode SWITCH provides STANDARD FC switching capability and features. Second mode is NPV, in NPV mode Nexus 5K switches relays all the traffic from server-side ports oto the core switch.(NPIV enabled switch). The core switch provides F port functionality and all FC switching capabilities.

Yes, it is supported in NX-OS 5.0. Nexus 5000 platform supports N port identifier virtualization (NPIV) and N-Port Virtualization(NPV) since NX-OS 4.0 version. Nexus 5K supports two modes. By default, Cisco Nexus 5000 and 5500 Series switches operate in fabric mode, in this mode switch provides standard FC switching capability and features. Second mode is NPV, in NPV mode Nexus 5K switches relays all the traffic from server-side ports oto the core switch.(NPIV enabled switch). The core switch provides F port functionality and all FC switching capabilities.