move git repository out of a folder?

["Sean Brown" <seanmichaelbrown@gmail.com>]

Let's say I've got this directory structure of source files:

/folderA
/folderA/sourcecode/
/folderA/sourcecode/file1.txt
/folderA/sourcecode/file2.txt
etc...

When putting the project under git source control, I did this:

cd /folderA
git init

So now when colleagues clone my repository, they get the source code
in the "sourcecode" folder.  I'd like to just make the repository
simply give them the source files, not in a directory.  In other
words, as if I had originally been smart and done this:

cd /folderA/sourcecode
git init

Can I make that happen without losing all of the history?

Thanks,

Sean