Motorola's Android-powered smartwatch - the Moto 360 - will soon get the much-awaited Android 5.0.1 Lollipop software update, which is currently being pushed out in phases.

The software update with the build LWX48P is expected to finish rolling out by Monday, Dec. 15. It also includes the Coral software release and will bring with it a host of new features like the theater mode, watch faces etc.

"We are rolling out a new software update for Moto 360, this update includes the 'Coral' release of the Android Wear OS," revealed Matt, the forums manager for Motorola.

Last week, Google started pushing out the latest Android 5.0.1 Lollipop update for Android-powered wearables. Some Android smartwatch owners hankering for a taste of Lollipop were luckier than others as the software update is being pushed out in batches.

Motorola took to its official forum to let eager Moto users know that they could not "force an update out of turn" as reported by some users, who claimed to have been successful by resetting the Moto 360 to the factory setting mode, uninstalling and reinstalling the companion app or even re-pairing the Bluetooth.

With Motorola assuring users that all Moto 360 devices will be updated by Dec. 15, there is no need for smartwatch owners to resort to other methods.

The enhancements include third-party watch faces. This basically means that smartwatch users will be able to choose from a wide selection of watch faces that are available on the Google Play store. By deploying the Android Wear app on their smartphone, users can select the watch faces and configure them. Alternately, the faces can be configured directly on the Moto 360.

The update also brings an "undo button for card dismissal" so that when a card is swiped, its details will remain visible for the user to undo for a short period post the dismissal. The quick settings have an option for new modes like Theater (the screen will remain switched off unless a user turns it on) and Sunlight (to maximize the brightness). Users now have simpler access to deeper Settings and they can also manage interruptions.

Via the Android Wear app, Moto 360 users will now also have access to details pertaining to the smartwatch's battery performance, which include revealing the time left and which apps consume how much battery. Users will also be able to see the remaining storage capacity on their device.

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