Rumors suggest that the Nexus 5 will debut in October alongside a new version of Android, Android 5.0 Key Lime Pie, a major overhaul to the Android operating system, GottaBeMobile reports.

"Nexus devices, in the past, have ushered in new versions of Android. With the Galaxy Nexus in 2011, it was Android 4.0 Ice Cream Sandwich. In 2012, the Nexus 7 brought Android 4.1 into the world. Later in the year, the Nexus 4 and the Nexus 7 HSPA+ introduced Android 4.2 Jelly Bean. And this year, the new Nexus 7 arrived with Android 4.3 Jelly Bean," the website writes.

"It's a clear pattern and one that Google is likely to repeat with the Nexus 5. The most likely outcome is a Nexus 5 that ushers in Android 5.0 Key Lime Pie, a piece of software that has been brewing in rumors for quite some time."

But the release date of the Nexus 5 has not been revealed and Google won't be teaming up with LG for the phone's development, leaving users wondering who the company will partner with.

The release date of the Nexus 5 is expected to be in October or November later this year since its developer typically releases phones in the last quarter of the year, a report published by Nexus5US.com claims.

Many also speculate the release date of the Nexus 5 will coincide with Android's anniversary as Google celebrates its 5th year with the phone operating system.

Google has not announced an official release date for the phone that has caught the attention of users around the world.