Why don'tThe Alpha version of Xposed is now available for Lollipop on ARMv7 and higher devices, so you see this link .. Hope this might help .should be able to install it without issue on the Nexus 5. Refer to the XDA thread for all the details:
http://forum.xda-developers.com/xposed/official-xposed-lollipop-t3030118
