If you are the owner of the LG G2 and you want Android 5.0 Lollipop you will be happy to hear that you can get the update thanks to the XDA Developers.
The XDA Developers are now offering the update to Android 5.0 Lollipop OS by way of the CyanogenMod 12 ROM with the Android 5.0 AOSP source code. Before you go into installing the OS you should be aware that there are some things that are not working on the ROM, such as the native apps, airplane mode, GPS, NFC, audio and the sensors.
You can go ahead and install Android 5.0 Lollipop on the LG G2 if the device is rooted and you can install it through SuperSu. The team are going to be launching bug fixes and if you have the D800, D801, D802, LS980 or the VS980 device you can install it.
You do need to have installed custom recovery and this means that you need CWM, TWRP or PhilZ on the device. If you own the LG G2 you can make use of the Loki bootloader patch and install TWRP onto your device. You can make a backup with NANDROID so that you can reinstall it and check to make sure that there is 50% left on the battery at least. You can then follow the guide below to install Android 5.0 onto your handset.
Download the CM12 ROM ZIP file for your LG G2 variant from this link. Do make sure you download the correct ZIP for your device as flashing the ZIP meant for another G2 variant may cause issues or might make your device incompatible with your carrier network bands.
Download the Google Apps Package from this link. As is usually the case with CyanogenMod ROMs, the Google Apps are not included in the ROM by default, so you need to flash the Google Apps package separately.
Now transfer both the ZIP files to the internal storage of your G2, preferably somewhere you can easily locate, instead of having to go through various folders when choosing the files to flash them later on.
If you want to root the firmware, you can also transfer the SuperSU ZIP file from this link and transfer it as well.
Now boot your device into recovery and wipe cache, data, and system partition.
Choose the ROM ZIP file from the location you stored it in and flash it. The ROM installation should be complete within a few minutes.
Once the ROM has been installed, choose the GAPPS ZIP file and flash it as well.
When GAPPS has finished installing, flash the Super SU ZIP file to gain root access with Lollipop.
You should now have the LG G2 running on Android 5.0 Lollipop, congratulations.