Android (Root) - Xposed For Lollipop Has Arrived! (In Alpha Form)
The page also includes a link to a Q&A , which includes some good news like that most modules should work within this new Xposed Framework because they're not tied to the runtime format, especially the ones that modify apps and not system level stuff. It also mentions that he is now accepting donations, if you really insist (after resisting them for so long) but mentions that it does not mean you can make demands. So if the only thing holding you back from upgrading your device to Lollipop was the lack of Xposed, you can now give it a try.