Just did this and I'm getting update now. It is the actual OTA not a scary online download. This only clears out data that is in your phone and for some reason gets you the update to push.
The 4.0.4 update is pushing out to a massive batch of Galaxy Nexus owners as you read this, however, there are still a number of you that have yet to be prompted. If you would like to speed up the process, you can try this little trick that dozens of readers have submitted as working like a charm.
1. From your phone, head into Settings>Apps>All.
2. Search for Google Services Framework.
3. Once found, tap on it and choose “Force stop.”
4. Then choose “Clear data.”
5. Back out of Apps to your About page in Settings and check for the System update.
You may have to repeat the steps a couple of times. Good luck!
Cheers @splendorthought and to everyone who sent this in!
This worked for me earlier today as well. Took a couple of tries though.
No *Official* Google Wallet for me. That would have been a very nice added bonus.
Just an idea for Google wallet. Try installing it from the browser within your phone and not the Google play app. I don't know if it'll work but it's worth a shot. I already had wallet but when I updated my phone tonight I went into the play store from my browser and it showed an update for wallet so it might work. Idk
I've been playing with Google Wallet for a few months now and since getting the 4.0.4 update it's still on my GNex but looks to still be blocked from the market I mean Play Store. I was able to load Wallet from my browser on my phone by following a Youtube video. As long as Google hasn't done something to stop this work around you might wanna give it a try.
Try watching this video or looking for something similar: