Thanks to the team at Cyanogen, we've been able to see continual growth and forward movement of many a great device when it came to newer versions of Android software. This includes the Galaxy Nexus, a phone that is soon to be three generations old. Even old phones however can live on to fight another day and up until now, faithful Galaxy Nexus owners and users have been able to do just that through the much loved CyanogenMod ROM that has been in the Android community since the early days. The custom firmware is a favorite for many reasons, and one of them has been the dedication to continue supporting the device for updated software when Google announced that it would no longer be doing so themselves.
Google pulling the plug on updates is standard fare when it comes to older devices, it has to happen at some point, and this is usually where the ROM and development community picks things up. Google passes the torch so to speak and people like the awesome team at Cyanogen run the next few legs of the race. Android 4.4 Kit Kat was the official stopping point for Google on the Galaxy Nexus and while many people weren't so happy to hear such things, Cyanogen continued to support the device and bring ROM's built off the Kit Kat source code so Gnex users could get their taste of chocolate covered wafers in digital form. Unfortunately, CyanogenMod will most likely not be supporting the Galaxy Nexus going into Android L, so it seems that unless other ROM developers take up the task, the Gnex may be dead in the water at this point. Coming up to almost three years old, this shouldn't be a surprise to anyone.
There are various other reasons for this happening but what seems to be the biggest factor is the lack of support for the OMAP processor from Texas Instruments which makes it harder for developers to support the devices that run them, which the Galaxy Nexus is one of. Abhisek Devkota from Cyanogen stated that the Galaxy Nexus will not survive the jump to L due to these reasons. While nothing is yet set in stone, we're likely looking at putting the Galaxy Nexus to rest for newer software versions.