If you don’t like to wait for official updates from the companies and are a ROM flasher then this is music for yours ears. There is now an unofficial CyanogenMod 12.1 ROM that brings Android 5.1 Lollipop to the Motorola Moto G 2014.
Based on the latest Android 5.1 firmware, this release brings better dual-SIM card support, greater control over notifications, the ability to switch Wi-Fi and Bluetooth connections in Quick Settings, and better theft protection.
It’s unofficial, and an early release, which means you could find some bugs, but according to XDA Developers forum, it seems pretty stable.
If you’re interested in this, you will need an unlocked bootloader and a custom recovery. You can then download the firmware package from the original XDA thread.