Need help, I jumped down the hole by accident. Cannot reload earlier save because its corrupt. Its Mk.5 X-01 so i need to get it out. Any suggestions???

remove the pieces from the frame and swim up

This.

Its the only way, and you'll have to find a new frame.

Can you use a Jet pack in water? Just curious if you swapped out a jetpack torso for the one currently on it if you could fly up out of the hole.

If you are on PC, you can use the console command "tcl" and just walk up out of the water.

Thanks guys, I just got my armor out.

You jumped down the hole by accident, huh? LoL, heheh...
So, simply take all the armor pieces and the fusion core, and hang them on a new frame.
No way you'll get the old frame out of that shaft.
It's much too long for the Jetpack (which I don't think works under water anyway).
And look on the bright side - you're now sporting Kremvh's Tooth!
Which has a ferocious appetite for Feral Ghouls...

It just occurred to me that you can put a companion in it, exit the area through the door and they should be right there with you wearing your armor...

Yes, the companion stuff works. If not, take all the parts out the frame and find a new one (very easy).

By the way, the jetpack doesn't work underwater.

In the first time, I also jumped on that hole with my power armor (with the jetpack torso). Had to reload it. Luckily, there was an autosave from 3 minutes before =D

A word of advise, keep at least a dozen saves back, maintaining just 1 is asking for heartache when your save gets corrupted by the system.

I'm not sure if you can move a frame by holding something and nudging it with the item. I know you can move items which are "too heavy" such as corpses wearing frames, but not sure if the frame itself is movable. If you can nudge it, then you could just get a tin can and use it to push the armour upwards all the way.