I wonder which phones will be able to upgrade to Android 5? I have a Galaxy Note 2.

So far it looks like only Nexus.

Timeline for various manufacturers - http://www.pocket-lint.com/news/131370-android-5-0-lollipop-when-is-it-coming-to-my-phone

"Samsung is definitely willing to push this to large number of devices by releasing android lollipop updates for devices like Galaxy Note 2 and Grand 2. While they are known to be slow with the updates, at least a large no of Samsung smartphone owners will get android lollipop update."

ref: http://www.androidsilverprogram.com/2014/07/List-Of-Smartphones-Getting-Android-L-update.html

Key Devices In Gray Android Update Area

There are also some people that probably won’t get the update at all. Two key devices, the Galaxy Note 2 and Galaxy S3, currently sit in a gray area. Samsung typically keeps devices updated for two years before kicking them aside. Both the Galaxy S3 and Galaxy Note 2 are now more than two years old which means that they’ll be lucky to get Android 5.0 Lollipop.

If Samsung does decide to jump to Android 5.0, these devices and other devices that arrived in and around their release dates, will almost certainly be last in line. Upgrades for older devices tend to take a lot of work and a lot of testing behind the scenes. We expect these devices to be low priority as well. Look for Samsung to upgrade the devices that are still being sold first.

http://www.gottabemobile.com/2014/11/05/nexus-6-vs-droid-turbo-size-comparison/

My Motorola Moto G is going to get it, probably before the new year!

Just read last night that many people beta testing "5" are having serious problems with excessive battery drain. I forget what process is involved but Google is aware of it and looking for a solution.

http://www.forbes.com/sites/gordonkelly/2014/11/05/google-confirms-android-5-0-lollipop-delay/

Just wait a while for the developers to pick it apart and come up with vastly improved Custom ROMs - including for the Note 2.