It used to be a bit of a "paper shuffle" for the TC to FAA conversion; when I did it 6 or so years ago it was getting the FAA to verify my Canadian ATPL (yes, we add the extra "L" on there) which took about 6 weeks, then writing a short exam, getting the FAA medical, then going to a FSDO to get the license issued. However this has recently changed and it's much more complicated and involved (and expensive) - there are some threads about it on the avcanada.ca forum, so I suggest you do a search there if you're still interested... (but do mind what the above poster mentioned re: the license being converted must be a stand-alone one.)