Hi...no i m not sure, coz this is pending with BOS and they have to decide when this rule would be start.
If you dont want to wait then you have to clear your CPT exam which will be held in DEC-11, if you crack that then you il be eligible for IPCC in Dec-12.
If you wait you might save your more then 2 years......choice is yours.....
very soon icai going to implement graduates with high marks exempted from cpt check this link
www.dnaindia.com/.../report_icai-exempts-ca-aspirants-from-clearing- common-proficiency-test-in-pune_1578415