Finally we saw an Update OTA for Lava Iris504q by LAVA.
Note:- You need to be UnROOTED and on STOCK Recovery to Successfully Update your device.
Steps to UPDATE:-
1.Go to Settings
2. Click on About Phone
3. Tap Software Update
4. Check for Updates.
5. It should prompt you to download the Update file. (~59 MB).
6. It will reboot and update the Phone.
Manually update by:-
Note:- You need to be on Stock Recovery and Rom.(Did not tried on Custom Rom)
1. Download the file UPDATE.ZIP (Download links Below)
2. Put in Root of Internal/External SD card.
3. Go to settings
4. Click on About Phone > Software Update and it will Prompt you with the file update.zip.
5. Click Update.
6. It will start updating u r Device.
I didn't notice any MAJOR changes its a minor update.(Nothing notisable though)
1. Updates several apps
2. Little Performance improvement.
3. Little Battery improvement.
4. Build Number Changed.5/20 to 8/12.
5. SMS bug seems to be FIXED.