In the unlikely even that the Pals would VOTE for said annexation, Binny would have to give them all full Israeli citizenship. So far, the legal boundary of Israel is the '48, and the legal boundary of Palestine is the '67. Everything else is up for negotiation.
Palestinian Red Crescent: 568 Palestinians wounded in W. Bank and E. Jerusalem on Saturday (Haaretz)
from the article: Obama to Bibi: You're on your own