Thanks friends for suggestions.

The company is willing to pay for my h1b...that is not the problem. But they do not know that I cannot work from May until October...they might be thinking that once they apply for my h1b, I can continue working for them. So that bothers me...what if they change their mind once they find this out? And then it might be very late for me to search for another employer on April itself....

And, I will not be out of status after May, I will still be in my dependent visa which I had previously and hence I still can stay in US.

Please guys, I am waiting for more of your suggestions.