[Reference]Lollipop 5.0.1 Update

[srkmagnus]

The Lollipop 5.0.1 update is currently available for a few Nexus and GPe devices. As of writing this post, the Nexus 5 does not yet have the update available. However, this thread is being created to provide references to the update and information to manually update should you wish to not wait for the OTA to hit your device. I've also linked the factory image page below should anyone like to flash the factory image rather than using the OTA. Let us know if there are any questions!

Lollipop 5.0.1 OTA Links: Android Central - Android 5.0.1 OTA links

How to manually update your Nexus using the OTA download: Android Central - How to manually update your Nexus

Factory Images: Google - Factory Images for Nexus Devices