Android 5.1.1 Lollipop will be released soon.

The co-founder of "Android Police" blog, Artem Russakovskii posted on his Google+ account the following text:

"I'm told that Android 5.1.1 for both Android phones/tablets/etc and Wear will be released "in the coming days" (perhaps later this week or next week). Android Wear update may be released together or separately sometime after the main 5.1.1.
I'm guessing Google may be just waiting for 5.1.1 to update N9, N4, and N7 2013.
You should expect that gesture control and Wi-Fi in Wear 5.1, as previously rumored.". Russakovskii refers to the Nexus 9 Nexus 4 and Nexus 7 (2013), which have not yet been updated to version 5.1 of Android Lollipop, everything seems to point that they will directly receive the update to this new Android version.

Regarding "gesture control", Android 5.1.1 could bring support for Android Wear to move through notifications using our wrists, not with both hands (a simple, but very welcome addition to the system).

Typically, smartwatches with Android Wear depend on communication with a smartphone connected via Bluetooth, but most of these devices come with a pre-installed Wi-Fi chip which has remained inactive so far. This Wi-Fi system apparently will be activated once Android 5.1.1 Lollipop arrives.
Another addition we all expect it to appear in the new build is a definitive solution to the notorious memory leak problem. In a few days we will review all the improvements this new Android Lollipop update brings, once it's delivered to Nexus devices.

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