UPDATE: Google may announce the launch of its highly anticipated Nexus 5 and Android 4.4 KitKat at 12:30 p.m. ET today.

The tech company announced this morning that A Morning with Google+ has been scheduled, along with a live stream, where "The Google+ team will be sharing a few updates. RSVP to this event to watch the broadcast live."

This leads to speculation that the device may indeed be released today with the new mobile operating system. 

Watch the live stream of the Google announcement in the video below:

Google's LG-manufactured Nexus 5 is long overdue, with release dates coming and going for the long-awaited device.

Google has remained mysterious and has not offered any official word on when the device will be launched, although many speculate that it will launch by Nov. 1 latest.

And it looks like the Nexus smartphone will launch in an all new white color, according to latest leaked photos.

Twitter user @evleaks, who has a good track record tweeting tips about upcoming devices, tweeted a photo of what looks to be a white Nexus 5 handset with the caption "In White. 11/1." Many are expecting the purported "11/1"date to be launch and release date of the smartphone.

However, other reports from MobileSyrup and Tech Crunch stated that the Nexus 5 will launch at the end of the month on Oct. 31, 2013.

The popular budget phone is expected to launch with the all new Android 4.4 KitKat mobile operating system and pack powerful specs, which includes a 5inch 1080x1920p display, quad-core 2.3 GHz Snapdragon 800 chipset, 2GB RAM, 8MP camera, 2300mAh battery, as well as LTE connectivity. It will be available in either the 16GB or 32GB model.

Google accidentally released snapshots and price of the 16GB device on its Play Store, which gave it a $349 price tag.

The Android 4.4 KitKat packed Nexus 5 and Nexus 10 2 were originally rumored to release on October 15, 2013. However, that date turned out to be nothing but a hyped up date.

The tech giant also hosted a "meet and greet" Google Play press event on October 24, 2013. Many had hoped that the new Nexus devices would launch at the NYC-based event, but that also proved to be nothing but rumors.

Pre-order listings have been appearing on auctions sites as the rumors continue to ramp up for the impending Nexus 5 launch. As the device has not been officially announced yet, buyers should beware of purchasing anything unverified items.

Google's Nexus 4 was popular due to its mid-range specs and affordable budget price. An unlocked and no-contract version of the phone was only $299.

Google's Nexus 5 is one of the last major phones expected to be released before the end of 2013, and is highly anticipated by consumers all over the world.

The latest Android 4.4 Kitkat will feature an updated revamped user interface, improve battery life of the device, improve optimization of old Android mobile devices, and better performance.