The Galaxy Nexus is about to get the Android 4.1 version very soon it seems, according to a listing in the Play Store. Earlier this year many people thought that JellyBean is actually Android 5.0, but seeing how Google will have to launch their tablet at Google I/O as well, they couldn't just do it with the 8 month old version of ICS. So now we'll get Android 4.1, called JellyBean, and in fall we can expect Android 5.0, whatever it will be called, for those 5 or more Nexus devices.
There's not much at all we know about Android 4.1, either because Google has kept everything very secret, or because there won't be that many improvements, and it will be just a minor improvement. First off, I doubt Android 4.1 will be as big of an update as Android 5.0 will be. Second, the updates will mostly be related to tablets, and they should be. I don't think the tablet version is as good as it could be, so Google could do a lot more work on it to make it radically better than everyone else.
Android 4.1 will be showcased, and even launched at Google I/O next week, where everyone there should be getting a Google tablet, while everyone with a Galaxy Nexus should be getting the Android 4.1 update over the air. At least I hope that Google has gotten this organized by now. If we're lucky, we might even get some hints about what we'll see in Android 5.0, but probably not too many. At least I hope they are going to present the major upcoming features, to trump iOS 6 and WP8 hype.