My website just got infected with malware... What are the SEO implications?

[Ryan]

My website just got infected with malware. Not sure how this happened but there was a long javascript code inserted just below the footer on each page and google emailed me saying that they saw it was infected and are now displaying a warning page to anyone that clicks on my site through organic seo searches. I have deleted out the code and have resubmitted my site to be taken off their black list but I have taken a hit in both my local search rankings (im a contractor in the baltimore area) and my regular seach rankings. Once I am off their bad list will my results go back to where they were or will it take longer (weeks? months?) Any thoughts?