"What will happen if Obama found inelligible by Supreme Court."

This article describes what would happen if Obama is found ineligible. It depends upon when that finding is reached.

There are several suits pending in courts in a dozen or so states seeking to find Obama ineligible to be elected President by virtue of having been foreign born. One of these has made to the U.S. Supreme Court. See the following:

SUPREME COURT RULING ON OBAMA'S ELIGIBIILITY FOR PRESIDENT

The case, unsuccessful at the state level, had been submitted to Justice David Souter, who rejected it. The case then was resubmitted to Justice Clarence Thomas. The next line on the court's docket says: "DISTRIBUTED for Conference of December 5, 2008." These Conferences are held out of the public eye and are where the Justices determine which cases it will hear. If four of the nine justices vote to hear the case in full, oral argument may be scheduled.