Does V5 IPS not work with SDM? I get the message "IPS not supported" using IOS 12.4(11)T1. CLI show IPS working.
SDM need 12.4(11)T2 or later image to support IOS IPS in 5.x signature format due to some issues in IOS.
For 12.4(11)T1, the best option is to use CLI for now.