Do you own an iPhone 5? Have you run into some issues with your sleep/wake button?

Well, you're not alone. According to Apple, a "small percentage" of iPhone 5 devices have faulty sleep/wake buttons that could cease to function entirely, or only work some of the time. So what's an iPhone 5 user to do? Get a replacement, of course.

Apple has launched a replacement program for affected "models manufactured through March 2013." If you've got an out-of-warranty device with a malfunctioning sleep/wake button, Apple has set up a website where you enter your device's serial number to see if it qualifies.

Say your device qualifies, what next? Apple offers up two options — either send in your device by mail or take it to an Apple Store or authorized service provider. If the phone is eligible, it will be shipped off to a repair center, where it will be repaired in four to six days.

And if you decide you need a phone while yours is in the shop, the Cupertino company will be providing 16GB iPhone 5 loaners.

A writer for MacRumors notes Apple will even issue a refund to those customers who may have paid for a replacement due to a faulty sleep/wake button.

And a word of warning from The Wall Street Journal: "You'll want to back up your data to iTunes on your computer, or to iCloud. And if you're one of the folks who stuck with iOS 6 and never moved over to iOS 7, your phone won't come back running Apple's older mobile OS."

The replacement program launched in the U.S. and Canada on Friday. Apple says it will be available in other countries starting May 2.

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