Owners of the Nexus 7 (2012) GSM and Nexus 7 (2013) LTE can get their hands on Android 5.0.2 immediately. Google has posted the factory images for the latest version of Android for those two tablets. Prior to the update, the software on the tablets was Android 4.4.4 (KTU84P). This version goes by LRX22G. The update arrived on other devices in mid-December and includes general fixes and minor changes.
Click here for directions on how to manually install the Android 5.0.2 update.