Just wanted to additionally confirm via an email from VZW. Sounds like they are going really slow with this for some reason..
"Dear Luke,
Thanks for contacting Verizon Wireless regarding the software update rollout for the Samsung Galaxy Nexus. My name is Frank I know it can be frustrating knowing an update exists and you haven't been able to take advantage of it yet. Let me explain the current status of the Android 4.0.4 update.
The good news is that we officially started rolling out the Android 4.0.4 update on May 30, 2012 and you should be prompted to upgrade in the next three to four weeks. I understand this could result in having to wait longer than anticipated for this update. The other good news is you can pull the software update to your device 10 days after the software's effective date of May 30, 2012. As Rashad stated earlier, you can do this by going to your settings and selecting "about phone", then "system updates." Lastly, you'd select "check now." We do not have a list that controls who gets the update pushed to them first but as I stated above, you can pull it to your device no later than 10 days from its release.
I'm confident the information provided will help better explain the update process. Thanks again for contacting Verizon Wireless. We truly value your business and loyalty.
Sincerely,
Frank
Verizon Wireless
Customer Service"