Talk

Welcome to Android Central! I don't absolutely know for sure, but considering that LG has problems getting system version upgrades even to its flagship phones, then it's pretty unlikely that it'd happen for a budget/midranger.
 
Often, not always, many phones purchased through a Service Provider for example—Sprint, ATT, Boost, MetroPCS,... —are locked in to the Android version it was purchased with.
While helping friends & associates with this I've had to Root their devices, when possible, to manually flash new OS's. Sad way of business but it is just that— business.