The release of factory image indicates an impending arrival of the OTA update, which is expected to go live later today or tomorrow and we will let you folks know as soon as that happens. However, if you don’t want to wait for the OTA, you can always flash the factory image for immediate access to Lollipop. Flashing of factory images is not recommended for everyone and it will wipe your device of all data.
There is no still no sign of the Android 5.0 factory images for the 3G/ LTE variants of the Nexus 7 (2012) and Nexus 7 (2013) tablets, but we hope to see them soon.

One reply on “Google posts Android 5.0 factory image for Nexus 4”
Flashed it on N4.. Flawless! Loving the lollipop.