There have been whispers about an impending update to Android 5.0.1 for a little while now, and it looks like Google has begun pushing the new release to AOSP now.
The build being pushed right now is LRX22C. We've heard that Android 5.0.1 will also be coming to Android Wear, a possibility corroborated by Derek Ross, who points out dramatically improved battery life for Google's wearables. The update is also supposed to fix a variety of issues with the initial 5.0 builds, but in the absence of factory images or OTAs (for now), all we can do is wait for the push to complete and look around for any goodies.
Update: It looks like some factory images have already hit as well. So far, the Nexus 9 (WiFi), Nexus 7 2013 (WiFi), and Nexus 10 images can be grabbed from Google's download page, linked below.