but then again, I may be mistaken. In a recent interview with Yahoo! Movies UK, Cate Blanchett said
"I was there [New Zealand] for eight days. So I don’t know whether I'm in the second film. I think I'm in the third…My three boys, my three sons, hope that I'm in them, but I honestly - hand on heart- can’t tell you."
It seems that Galadriel will not make an appearance in The Hobbit: The Desolation of Smaug, but will be in The Hobbit: There and Back Again.
Source: Yahoo! Movies UK & Ireland