L1 expired currently on the I94.. is there a chance for h1

My L1b visa is expired and iam on I94. Can i find a new job or should i definitely go back to india to apply for new h1 VISA. My husband is also working with me on L1A visa with ne . We both have I 94 till 2014 feb. Please clarify me!

VISA is required only when you seek entry into US. As long as you stay inside US, you don’t need to get the VISA stamped in your Passports.

Once you get your H1B petition approved, you may apply for change of status (COS) from L1 to H1B. Alternatively, you may file H1B petition w/ COS.