Google has announced that it will be rolling out Android 5.0 Lollipop update for all the Nexus devices released in the past two years as well as Nexus 7 (2012) tablet. In addition, the Google Play edition devices will also be getting the Lollipop update from Google but it is unclear whether all of GPe devices will be lucky or some of them will miss out.
According to Google, soon after the Nexus 6, 9 and Nexus Player launch, the Android 5.0 will start rolling out to Nexus 4, Nexus 5, Nexus 7 (2012, 2013), and Nexus 10 devices. Nexus 5 and Nexus 7 (2013) are likely to be the first Nexus devices to get the update, followed by Nexus 10, Nexus 4 and Nexus 7 (2012). The update for the Google Play edition devices should arrive alongside the Nexus devices or soon after them.
In addition, Google has also revealed that it will be releasing the final preview builds of Android 5.0 for Nexus 5 and Nexus 7 (2013) on October 17. These factory images will be available at Android Developer website.