Android 5.0 Key Lime Pie is expected to be announced at Google's I/O in May. So it's not too soon to take a look at what we know from various sources so far:

Google hasn't released any information on Key Lime Pie, but there are abundant rumors, leaks, and bits of information Android developers have revealed about Google's upcoming version of Android. 

Profiles are expected to be a big feature in Android 5 Key Lime Pie. Almost all major smartphones have this feature, either built-in or by use of a third- party app. When Google acquired Motorola it also got possession of its patents and features that it currently adds to its smartphones. Motorola currently has a similar profile feature called SMARTACTIONS which allows a user to setup battery-saving actions, like turning off Wi-Fi, syncing accounts and more. The feature also allows you to automate things you do every day: one example would be to turn off the ringer during meetings. Google is expected to build this feature into Android 5 Key Lime Pie.

There are rumors that Google will also add the ability to demo apps and games on the Google Play Store before actually downloading or purchasing the app. Google currently allows users to download an app from the Play Store and will offer a refund within 15 minutes if the user wants a refund.

Android 5 Key Lime Pie is also expected to tightly integrate social networks like Facebook, Twitter and Google+ into the OS. We first saw Apple take this approach with Twitter in iOS 5 and then add Facebook integration with the release of iOS 6.

It's safe to assume that Google will probably add even more features than the ones discussed here. It is still a mystery whether Google will decide to launch its rumored X Phone with Key Lime Pie or go with a Nexus smartphone, as it has done in the past. The current rumors indicate that Google will be deciding between its X Phone created with Motorola or LG, who currently makes the Nexus 4 smartphone for Google and has already confirmed its interest in building the next Nexus smartphone. As we get closer to May, there will be even juicier details to report. Stay tuned!