Lumber and Siding - Vinyl siding over the wet T1-11

I am going to install vinyl siding with TYVEK wrap and one inch thick foam thermo insulation over twenty years old T1-11 siding.
It is very rainy season now, so my major concern is to leave wet T1-11 under the vapor impenetrable foam barrier.
I believe it will be never dry and mold will be very possible.
Should I wait for dry season to start that project? Or my fears are baseless?
All suggestions are appreciated.

Hi Islander and welcome to the forum. If your rigid foam is foil or plastic faced it will indeed be a vapor barrier and the moisture could become an issue. Link below will help explain which barriers allow some moisture transfer. My recommendation would be you need to dry it out before covering it. Tyvek is designed to shet rain water yet allow moisture to evaporate through it, so applying the Tyvek asap would help the drying process.
Energy Savers: Vapor Barriers or Vapor Diffusion Retarders (http://www.energysavers.gov/your_home/insulation_airsealing/index.cfm/mytopic=11810)

stay warm
Bud

Thank you Bud for warm invitation to the forum and interesting suggestions. It sounds very reasonable to wrap house ASAP by Tyvek to help the drying process.
What will happen with the wall moisture leftovers after I lock them by rigid foam sheeting? Is there any solution to give them way out to prevent rotting wall materials?
My walls definitely have plastic film vapor retarder from inside.