Android 4.2, the latest version of Google’s operating system was rumored to be Key Lime Pie, but as it was an incremental version of Jelly Bean, Android 5.0 is speculated to be Key Lime Pie. These speculations were based on the rumors in Q2 this year, prior to the launch of Android 4.1 Jelly Bean suggesting that the next version could be KLP.
However, there is a sort of confirmation that KLP is the official name of the future release as a Google employee, Manu Cornet drew has posted a comic drawn by him on his Google+ account. The comic shows the evolution of Android depicting the human evolution from ape.
Moreover, the comic is factual with the robot (Bugdroid) standing erect starting from Android 4.0 ICS, which is when the real evolution started for Android in 2011. Besides all this, the most noteworthy aspect is after Jelly Bean, the comic shows a piece of pie with lime and cream, thereby hinting Key Lime Pie as the next version.
It could be Android 4.3/Android 5.0, but it speculations are strong on Android 5.0 as a couple of handsets from Sony and LG have been spotted on benchmarks to running on Android 5.0, which is rumored to be KLP.
Anyways, this is only a rumor and there is no official information from Google regarding Android 5.0 or its features, however, Google could unveil the next version at Google I/O 2013 in May/June.