Actually, Lelouch is dead. There is a lot of controversy about this topic but the truth is that Lelouch died. The director of Code Geass even berkata that Lelouch's body was kept in Damocles and sent to the sun.
Also, in the end, CC looks to the sky while 'talking' to Lelouch.
This is the most hotly debated topic in all the fandom. No one knows the answer, though; There are all sorts of arguments on either side. But there is no answer, just opinions