The LG G3 was one of the first smartphones in the world to receive the Android 5.0 Lollipop update, but LG hasn't announced any time frame for the Lollipop update to any other smartphone in its lineup. However, a couple of videos have surfaced on the Internet showcasing LG G2 running Android 5.0 Lollipop with LG's new flat UI.
The first video shows Android 5.0.1 Lollipop running on an actual LG G2, while the second video shows the latest iteration of Android on a Korean variant of the LG G2 through a screen recording app. It can be observed in both the videos that LG has ported the same UI, which is currently running on the LG G3.
Unfortunately, there are no details about the specific time frame when we could expect the latest Android update for the LG G2. So we can only wait and hope that LG releases Android Lollipop for the G2 soon.