H1-B transfer and Premium process

Hi,

My visa expired on may 05 2008. But I already applied for h1-b transfer on august 2007. Due to regular process and my application was picked for a security cehck i got the background check completed first week of this month. My employer said that I only have 240 days after my expiration to get the h1-b transfered .so I applied for premium process last week. If I do not get my visa before jan 5th will I be out of status?