Yup. They will just host it outside of the US.
Just to clear things out..
PIPA, if passed, will give
U.S. corporations and the government the right to seek affirmative legal action with any website that they see as enabling copyright infringement whether of U.S. origin or not. Here is a breakdown of all that they will have the power to do.
Force U.S. internet providers to block access to websites deemed as enablers of copyright infringement
Seek legal action by suing search engines, blog sites, directories, or any site in general to have the black listed sites removed from their website
Will be able to force advertising services on infringing websites, and those supporting of them, to remove them from their advertising accounts
Companies will also have the power to sue any new websites that get started after this bill is passed, if they believe that they are not doing a good job of preventing infringement on your website
SOPA, if passed, will work in conjunction with PIPA. As described by such entities as the Electronic Frontier Foundation, SOPA is nothing more so than the U.S. government and private corporations black list.