Eatersmeter,
You will automatically be issued an US PPL on the basis of the Canadian license. If you want IFR priviledges, you need to pass the FAA IFR written test (piece of cake) and you will be issued a PPL/IFR with the mention "US IFR Written Test Passed". No need for an IFR flight test. You will then have to take your CPL written test, flight test and be issued an FAA CPL/IFR License. For the ME is only an add-on.