Video: The easiest way ever to upgrade your Nexus device in 5 minutes to Android Lollipop without waiting for OTA update (Nexus 4 for example)

1. First of all, go here and download Nexus Root Toolkit 1.9.5. Install the software. 

2. Next go to https://developers.google.com/android/nexus/images and download your Nexus Lollipop image. (Nexus 4, in my case). By the way, you can download Lollipop firmware for Nexus 4 from here, here or here. (occam-lrx21t-factory-51cee750.tgz)

3. Make sure that your Nexus device has 'USB Debugging' option activated.

4. Launch Nexus Root Toolkit 1.9.5., press 'Flash Stock & Unroot), next press 'OK' and after this press 'Other'.. & 'I downloaded a factory image....'. Press 'OK' button and choose the Lollipop firmware image.

5. Watch the video for more details.