Arduino pro mini v5 on-board MIC5205 150mA LDO Regulator

Thanks for the insight. So a 240mAh 1S 3.7v 25C LiPo Battery with a 5V Step-Up/Step-Down Voltage Regulator would the job?

http://www.overlander.co.uk/lipo-batteries-240mah-1s-3-7v-25c-sport-hubsan-x4-mini-quadcopter-type.html

https://www.coolcomponents.co.uk/5v-step-up-step-down-voltage-regulator-s7v8f5.html