Are you sure the FAA IR has to be current in order to do the conversion?
Yes, it does, in the UK at least. LASORS 2008 (the most up-to-date information that the UK CAA can manage) states, under 'Conversion Requirements'
"These arrangements will provide a route to a JAR-FCL IR(A) qualification for the following holders of a current and valid IR issued in accordance with ICAO Annex 1" (their emphasis).
It goes on to say that holders of an IR that is not current must attend an approved FTO and complete the modular IR(A) course. However, it does allow for the Head of Training to then state in writing that a full course is not necessary, in which case the Authority will 'consider' a reduction in hours. Mind you, in this financial climate, getting an FTO to vote for a reduction in training revenue is a bit like getting turkeys to vote for Christmas.