Boost curcuit amperage issue?

I am planning to make a small boost converter similar to mintyboost. I am using a boost IC that will give me about 92% efficiency with the voltage i have. The output is 5v at 500ma, and the input voltage is 2.4v. Would the ic suck up more than 500ma per hour from the batterys?

Of course, or else energy isn't conserved. It will consume slightly more than 1A from your 2.4 A source.