It seems Motorola has just beaten Google in releasing Android 5.0 Lollipop update. Moto X (2nd Gen) is now receiving Android 5.0 Lollipop update even before Nexus 5 owners got the Android 5.0 Lollipop update. Even though Nexus 5 did got the Android 5.0 Lollipop developer preview edition, but Moto X (2nd Gen) it seems will get the final version even before Nexus 5.
Motorola webpage here talks about Moto X (2nd Generation) – Androi 5.0 Lollipop – Release Notes. The page tells that a new software update for Moto X (2nd Generation) by Motorola i.e Android™ 5.0 Lollipop is available. The page also warns you that “You cannot downgrade to a previous software version after installing this update”.
Developers at XDA were able to capture the OTA zip file and have mirrored it. If you want to get a test of the new update on your Moto X (2nd Gen) without waiting for the OTA to arrive, you can grab the OTA zip file and flash it. More details and OTA zip file download link can be found at XDA here.
It seems that Motorola has just removed the update page from their portal and is not available any more. But you can check that page still by using the Google cache or using the link here.