Ludovic Fauvet, one of the developers behind the popular VLC project, shared on Twitter that the first version of VLC with support for Qt5 is almost working. Right now there's a few hacks, but overall it's apparently making good progress with an update being shared this week at the 2013 Qt Contributors Summit.
Fauvet wrote, "First version of #VLC with support for Qt5 almost working! Few hacks but it's a good start :) #QtCS2013."
Right now there is no time-frame for the actual Q5-capable VLC release, but when it does, this will be good news for Wayland users and others looking forward to the updated media player.