But i don't want to restore it i want to update it from 7.0.6 to 7.1.1 without removing all my current stuff, and i am doing that to get rid of the jailbreak!
Will it work?
If you have a jail broken device, you will want to restore it versus upgrade it. The main reason is that files (on the phone) have been moved around by the jail break. If you upgrade, the best that can happen is you lose data space (as the upgrade will put files where Apple had them, not where the jail break put them). The worst is that the upgrade may not work at all because the phone is so different from what iTunes expects.
Restoring is an easy process and you will not lose your current "stuff." Just make a backup first and, when prompted to by iTunes (after hitting the Restore button) put the backup onto the phone.
When you are finished restoring, if you use a backup, your phone will be exactly as before ... except it will be on iOS 7.1.1 and not jail broken. You will not lose any settings or data.
Marilyn