US Telecom operator Verizon has started rolling out Android 2.3 update for LG Revolution 4G. Update is available OTA, either you can wait for the update notification or directly trigger it manually by going to Settings > About phone > System updates > Check New.
The server initiated update will automatically reach your phone by November 2. Update size is 87.8MB, so downloading it via WiFi is the best method unless you want to spend some money as data charges.
Verizon has posted a update support guide