When is ios 7 available for the iPhone 5?

I know you can download it now but it's too much hard work that way, when will it be available on the updates for the iPhone 5 so I can just press a button and it turns into ios 7?

You still have to download it - it does not just magically change into iOS 7

Nobody knows. Around the middle of September is a popular guess.

Well the Iphone 5s and 5c are presented on September 10th and they have ios 7 out of the box. Apple usually release the os upgrade for all devices that can run it at the same time.
It will most likely be released for your phone a few days after September 10th

It will not be available over an OTA update. Only the upcoming iPad 5 and iphone 5S/5C will ship with stock ios7. When the final version of ios7 becomes available, you will still need to download it yourself unless you get the newer devices, which would be completely ludicrous to do since it's not hard at all to flash the new ios version on your phone.

The beta versions of ios 7 has been available for a while now, for both developers and regulars. But it is expected to be officially released somewhere around late september and thats when you can just press a button and relax and sit back until it is downloaded on your phone.

Apple haven't announced any official date for launching ios7. If you are so eager to use ios 7 then try ios7beta version