you must have an extremely small purse for something 5" to not fit, gf's Kindle fire fits perfect in her purse and it's packed and i would guess on the smaller side of average. iPad sure as hell won't fit, but the Fire does.
I don't consider something that carries a Kindle fire a small purse.... seriously. My purse is not big (and no, I don't want to carry a sack around thankyouverymuch. Never understood females who like having this big huge heavy sack hanging from their shoulder). But it fits my wallet, my iphone, my checkbook, a large battery designed to charge up my iphone, the cord for the battery charger, and some other various stuff fine (hand sanitzier, bottle of aspirin, my inhaler, a thing of Neosporin, buncha coupons). So it's not one of those tiny little ones either. I'd say it's about the size of a very filled football.
And no, I don't want a phone that requires me carry something bigger than that around. And really, any phone I get really should fit in my pocket fine too (just for those times I don't even want to bring my purse). It amazes me guys that want these bigger phones since they don't even get to carry a large sack around with them (or at least it's considered weird for a guy to do). Hell, it was hard to convince my dad to get an iphone cause he didn't even want that in his pocket.