So the awesome guys at XDA are working on a port using the Nexus 5 images which I found a bit odd considering the Nexus 7 and Nexus 4 share hardware closer too each other but the Nexus 7 is not a phone so that could be a reason for it being ported from the Nexus 5.
http://forum.xda-developers.com/nexus-4/general/android-5-0-discussions-rumors-t2780976/page36
http://forum.xda-developers.com/nexus-4/general/android-5-0-discussions-rumors-t2780976/page36