Factory images of Android 5.0.1 began to land in the Android Open Source Project (AOSP) earlier this month. The Nexus 7, Nexus 9 and Nexus 10 were the first to get corresponding images. Google quickly followed that up with images for the Nexus 6 and the older Nexus 4. Nearly two weeks later, the factory images for the Nexus 5 have now also appeared.
Like the other Android 5.0.1 factory images, the Nexus 5 one bears build number LRX22C.
A changelog outlining specific changes is still not available. The point release does suggest that this is simply a maintenance release that addresses bugs. It is very unlikely that it comes with any major new features.
With Android 5.0.1 now in AOSP, an OTA update should not be far behind.
Source : Google Developers