As the date of next month's Google I/O nears, owners of many Android-based devices wait for the launch of Android 5.0 Key Lime Pie. However, a new rumor is likely to break many hearts.

The rumor suggests that the launch of Android 5.0 Key Lime Pie will be delayed for at least two to four months, and the latest version of Android will not be launched at the Google I/O in San Francisco's Moscone Center.

The rumor emerged from a technology website, Gadgetronica, which claims to have found out about the delay from its "close sources." According to the report, the delay occurred because of the heavy workload of OEMs.

Although the report delves deeper into the crisis, the reason given for the delay doesn't satisfy many in the market. The report already looks dicey, as it doesn't quote any source and vaguely says "close sources" without disclosing them.

The OEMs (Original Equipment Manufacturers) always differ from company to company and will have nothing to do directly with the development and the launch of an Android version.

The other parts of the report that talk about the Nexus 5 and an updated version of the Nexus 4 smartphone have already been mentioned in many other reports.

Google has not released any statement about the existence or the launch of Android 5.0, and even the name "Key Lime Pie" is just a speculated title, guessing that going alphabetically after Jelly Bean, Key Lime Pie will be the most suitable dessert starting with K.

Google I/O is going to take place May 15-17 in San Francisco and it is expected to be a launch pad for revolutionary hardware and software.

According to reports and tech coverage so far, the three-day event might see the updated version of Nexus 4 smartphone. The updated version will come with 32 GB of storage space and improved CDMA and LTE connectivity.

There are also rumors that a smartphone from the manufacturing units of Google-Motorola might be seen at the Moscone Center, but the possibilities of seeing the Motorola X phone are very low, as nothing official has been revealed about the existence of the device.