According to the Cisco's Configuration Fundamentals guide for 12.4 (
http://www.cisco.com/univercd/cc/td/doc/product/software/ios124/124cr/hcf_r/cfn_02h.htm#wp1035222) the 'do' command was introduced in version 12.2(8)T.
I have a few 2501 myself and I can't use 'do' either. However, if your just starting out I would recommend you start out avoiding the 'do' command because I found it very important to understand the what and the why behind using different command at different prompts.
The 'do' command, while helpful, can cause newbies to not think about what the point is to having different prompts.