Google released Android 5.0 Lollipop recently but it was seeded to smartphone vendors long back so that, they could bring this update faster to its existing devices and looks like it is happening. Samsung Galaxy S5 and LG G3 might get Android 5.0 Lollipop update by the end of 2014.
According to a report from SamMobile, the Android 5.0 Lollipop update for the Galaxy S5 is in testing phase and might be released in December 2014. They have already showcased an early build of Android 5.0 for the Galaxy S5 on a video.
As for the LG G3, an LG representative for Netherlands and Belgium informed to TechTastic that the company will make an official announcement for the Android 5.0 Lollipop update for their flagship smartphone. According to him, LG might release the latest version of Android operating system by the end of the year. LG might also release it for the G Pro 2 soon after the G3 receives it.