Is it correct to power ESP-01 by 5 Volts ?

Hello, I ordered and received today an "usb programmer" like:
http://www.ebay.fr/itm/1PCS-ESP01-Programmer-Adapter-UART-GPIO0-ESP-01-Adaptateur-ESP8266-USB-NEW-/2221210828 .
It seems that my Esp-01 is rather hot .
I checked pins with a multimeter , it appears that the VCC is 5 Volts.(signal lines are correct at 3.28 V)
currently the Esp-01 is still alive.

of course the description does'nt give any information.
Regards
PO.

No the 8266 is to be powered at 3.3v. Some modules may have an onboard regulator. But the generic ones usually don't.
http://download.arduino.org/products/UNOWIFI/0A-ESP8266-Datasheet-EN-v4.3.pdf

The "adapters" should include a 3.3V regulator. You can see one clearly on THIS similar board. It's hard to tell whether yours has it or not. Make sure you're measuring the voltage AT the ESP8266 module pins; it's certainly normal that there is 5V "somewhere" on the board.
The ESP boards DO tend to run pretty warm. That's ~200mA supply current going into a pretty tiny chip.

Some converters do....some don't. I have both. As far as Power goes, it is not considered a good idea to power any 8266 module from a USB source. The current drain can get quite high (relatively speaking) particularly when the transmitter is active. It is even considered not a good idea to power from the 5V rail on, say,
an Uno. Check the specs and you'll see what I'm saying.

Hello,
thanks for your replies,
Today, it is correct, I don't imagine the mistake when mesuriong yesterday (may be without load?)
I apologize for wasting your time!
regards
PO.

Ooops, Here is THE explanation:
tested again, the lines Rx and Tx of the shield are at 4.90V, but VCC is good at 3.3V.
PO.

I apologize for wasting your time!

It is never a waste of time when something is learned.

When the 8266 first came out there was little documentation for it. I spent hours, no days, searching the internet for information. Actually spent more time researching than working with the modules until I gained enough understanding to do something with them. After two years playing with them, I still consider myself a novice. I've recomended Neil Kolban's ebook in another post and I beleive it's one of the best resources out there. Give it a look.

http://neilkolban.com/tech/esp8266/