Select members of the Nexus family is already getting the Android 5.0 Lollipop update. The latest iteration of Android will be available via OTA or through factory image available through download.
Nexus devices getting Android 5.0 include the Nexus 5, Nexus 7 (2013 and 2012), and the Nexus 10. The Nexus 4 is also said to receive the update, but will probably do so on a later date.
Besides the Nexus family, other devices getting the the lollipop treatment include the Moto G (2014), the Moto X (2014) Pure Edition, and the LG G3.
The release will most probably be in stages, so don’t be disappointed if you’re not getting the notification yet. But just in case, I suggest Nexus device owners to start checking system updates on their phones and tablets.
