In fact, even NestList[] is not needed, since Mathematica has MatrixPower[]:
NestList[{{1, 2}, {2, 5}}.# &, {1, 1}, 5]
{{1, 1}, {3, 7}, {17, 41}, {99, 239}, {577, 1393}, {3363, 8119}}
Table[MatrixPower[{{1, 2}, {2, 5}}, k, {1, 1}], {k, 0, 5}]
{{1, 1}, {3, 7}, {17, 41}, {99, 239}, {577, 1393}, {3363, 8119}}
MatrixPower[] can even be used to obtain a nice closed form for your iterates:
c[k_] = FullSimplify[MatrixPower[{{1, 2}, {2, 5}}, k, {1, 1}]]
{1/2 ((3 - 2 Sqrt[2])^k + (3 + 2 Sqrt[2])^k),
1/2 (-(3 - 2 Sqrt[2])^k (-1 + Sqrt[2]) + (1 + Sqrt[2]) (3 + 2 Sqrt[2])^k)}
though this closed form does not automatically produce integers for integer argument, unless given some assistance:
c /@ Range[0, 5] // RootReduce
{{1, 1}, {3, 7}, {17, 41}, {99, 239}, {577, 1393}, {3363, 8119}}