Even as most Android device users wait for an update from Android 4.1 to Android 4.2 Jelly Bean on their device, word's on the street that the next-gen OS, Android 5.0 Key Lime Pie, is set for a May debut.

According to reports, chip maker Qualcomm's roadmap for 2013 has leaked on the Internet and discloses that the much-awaited Android 5.0 Key Lime Pie, referred to as the K-release, will be announced in Q2 2013, possibly at the Google I/O, the search giant's annual developer event on May 15.

"Period of publication is placed on the spring 2013, so at this point, the parallels to the Google I / O can be drawn. Because the event is intended for developers, is well known on 15th May take place, so that the spring this provides confirmation," reported Baylog.de (translated).

Qualcomm is also expected to introduce new chips that will cater to the updated platform.

Currently, it is not known what features and enhancements Android 5.0 Key Lime will bring. Given Google's track record, a strong possibility exists that the software upgrade could be pushed out to existing Nexus devices, including the popular Nexus 4 and Nexus 7, within a few weeks of the May launch.

The notion of Android 5.0 Key Lime Pie being announced in Spring does not seem farfetched, as the timeframe matches with the alleged launch of new devices like the new Nexus 7 and the Samsung Galaxy S4, which are speculated to run on the OS.

Additionally, Qualcomm is also expected to evolve the APQ8084 chip, delivering a 2.3GHz quad-core processor as well as Adreno 420 graphics.

With Android 5.0 Key Lime Pie readying for its Spring debut, we'll just have to wait and see what exciting new features the much-awaited platform brings.