  We present the temperature and polarization angular power spectra of the
cosmic microwave background (CMB) derived from the first 5 years of WMAP data.
The 5-year temperature (TT) spectrum is cosmic variance limited up to multipole
l=530, and individual l-modes have S/N>1 for l<920. The best fitting
six-parameter LambdaCDM model has a reduced chi^2 for l=33-1000 of
chi^2/nu=1.06, with a probability to exceed of 9.3%. There is now significantly
improved data near the third peak which leads to improved cosmological
constraints. The temperature-polarization correlation (TE) is seen with high
significance. After accounting for foreground emission, the low-l reionization
feature in the EE power spectrum is preferred by \Delta\chi^2=19.6 for optical
depth tau=0.089 by the EE data alone, and is now largely cosmic variance
limited for l=2-6. There is no evidence for cosmic signal in the BB, TB, or EB
spectra after accounting for foreground emission. We find that, when averaged
over l=2-6, l(l+1)C^{BB}_l/2\pi < 0.15 uK^2 (95% CL).
