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It turns out the tests have been successful as the Jelly Bean update has started to roll out to a wider audience. The rollout will initially be for a limited set of users, and will continue to an even wider crowd based on the feedback.
To check if your Motorola Xoom WiFi is eligible to receive the Jelly Bean update, head over to Settings > About Tablet > System Updates.
Remember that this update is currently only being rolled out to a few lucky owners of the Motorola Xoom in the U.S. (MZ604). Other variants including the Verizon Xoom along with international users will have to wait until the various updates are approved by your carriers.
While you wait for the update you can check out the Android 4.1.1 Jelly Bean change-log for Motorola Xoom.
Are you one of the fortunate few to have received the update? Let us know in the comments section.