Motorola is beginning to roll out the Android 5.1.1 Over the air update for the Moto 360. These roll outs normally go out in batches so you may not receive the update right away. If you just can't wait to update your Moto 360 no worries the OTA update has been captured and has been uploaded by "xdatastic". This can be downloaded and flashed to your device via the recovery. Grab the zip from the link below.
via XDA