^^^Yes they will hold your application till that time. Following is the email I got from Buffalo in reply of my query
Dear Madam / Sir,
This is in response to your email (see below).
In order to add your child to your application, we require the following documents:
processing fee for your child (if accompanying you to Canada)
your child’s birth certificate
copy of your child’s valid passport
3 recent photographs of your child
updated IMM0008 Generic for yourself and updated IMM5406 “Additional Family Information” form for yourself and your spouse.
a “Certificat de Sélection du Québec” for your child ( in his or her name), if you wish to immigrate to the province of Québec (http://www.micc.gouv.qc.ca/fr/index.asp)
Copies of the original documents with original certified translations into English or French are required. All documents must be sent by mail or fax (see fax number and address below).
Your child must undergo a medical examination. We will send you the appropriate form upon receipt of the documents listed above. Be aware that even non-accompanying dependants must undergo medical examinations.
Application forms, fees schedule, payment methods and photo specifications are available on our Web site www.buffalo.gc.ca.
Any changes to your situation will likely affect processing times of your file.
You must also take into account that the amount of money that you need to have to support your family is determined by the size of your family and the cost of living in Canada. Therefore, as your family size has changed, you must increase the amount of settlement funds required to immigrate to Canada. For more information go to: http://www.cic.gc.ca/english/immigrate/skilled/funds.asp
Important: Note that if your child was born in Canada or if one parent is a Canadian citizen, the child is a Canadian citizen. If that is the case, you do not need to add the child to your application, no medical examination or fee is required. You must, however, send us a copy of the child’s birth certificate. You should also contact the Consular section of the Canadian Embassy nearest to you to make sure the child has the appropriate travel document. See these Web pages for information:
http://www.voyage.gc.ca/main/foreign/fordest/foreign_view_client-en.asp
http://www.voyage.gc.ca/main/about/service_standards-en.asp
For future reference, in all correspondence to our office, please refer to the applicant's full name, date of birth and file number.
We will contact you if there is any further information we require.
Regards,
Canadian Consulate General Buffalo
Immigration Section
Fax 716 858 9591
buffalo-im-enquiry@international.gc.ca
