Will satellites be affected by the year-2000 'Y2K' problem?

According to the web site Y2K News it does seem that some satellites will have problems with the Year-2000 turnover because they contain microchips which could contain embedded 'clocks'. Research satellites run on a 'time of flight' or 'Julian Day' clock, which is just a running count of the number of seconds since launch, or since a specific date in 4157 B.C. or some similar date. I dont think that such satellites will be affected, but there is plenty of effort being expended to work this problem. By now you have all heard that, worldwide, we will spend about $600 billion to correct this problem. World War II cost $4,200 billion. The Vietnam War cost %500 billion, and the Kobe earthquake cost $100 billion by comparison.