Google is going to unveil Android 4.3 Jelly Bean at Google I/O this May. It seems Google is not yet ready to unveil Key Lime Pie or Android 5.0 just yet. The issue here might be that most OEM's have not yet updated to Android 4.2, therefore a major release would not be possible at this time.
Android 4.3 has reportedly been spotted in comments at Chromium bug tracker as well as the build number JWR23B has been spotted in server log updates and tracked to Google employees. So the new update is going to retain the Jelly Bean moniker (first letter of update build) and Android 5.0 is still far away.
Among other things to be announced at Google I/O which begins May 15, is the 32GB LTE equipped Nexus 4. Although it might just be a ruse and we might see a super spec'd Google X or Motorola X phone with Key Lime Pie instead. Well, its a wait till mid-may then.
