Samsung Galaxy Y is one of the very low-end Android phones available in the market. Galaxy Y S5360 was launched with Android 2.3 Gingerbread and due to its hardware limitations, it cannot be upgraded to Android 4.0 ICS or Android 4.1 Jelly Bean. Manny developers have already successfully managed to bring CM7 to the phone, but there was never any attempt for CM9.
A group of developers and testers are currently working and testing on bringing CM9 ICS to the Samsung Galaxy Y S5360. There are no downloads available for the public yet, but once CM9 for Galaxy Y would be in a usable state, the devs would probably upload it online for everyone to download.
We have already covered several tutorials and posts on how to install Android 4.0 ICS on Galaxy Y, but looks like we will soon be getting the official CM9 on this phone.
Like I said, no downloads yet, but we will be closely watching their space on XDA-Developers if any download link popups and we get to install CM9 on Galaxy Y S5360.