Android 5.0.1 coming today to T-Mobile's Nexus 5 and Nexus 6
You need to make sure that your Nexus 5 or Nexus 6 is currently running software build LRX210. You also need to have the battery on your phone charged to at least 50%. And it is necessary for you to be hooked up to a Wi-Fi network, although Android 5.0.1 will be available over a cellular pipeline at a later time. And with the update weighing in at 13.3MB, you should make sure that you have sufficient room on your handset for it.
Android 5.0.1 is being sent OTA and when it hits your phone, you will see the appropriate notification. As usual, the update will be sent out on a staggered basis. If you do not receive the notification today, there is no reason for you to jump. Eventually, you will receive it. You can also try to coax it out of your phone by going to Settings > About phone > System Updates > Check now.
source: T-Mobile (1), (2) via AndroidCentral
UPDATE: We should also point out that the Sprint version of the Nexus 5 will also start receiving Android 5.0.1 today.