Both are quite good. Depends on your needs. 
Lx5 lens is wider, but shorter zoom. 
S95 size is more pocketable. 
In terms of image quality, I think both are quite close. 
One other disadvantage of Lx5 is that the lens cap is not built in like the S95. It's a separate piece. You can get a 3rd party lens cap that lets it auto open and close |