Your app will probably be rejected. Apple usually allows for a grace period, especially if the application existed before - but there is no guarantee. You might have harder times with a brand new application. However, I would not recommend to keep using SDK6.
If you want to make your SDK7 application compatible to iOS6 you will have to use respondsToSelector:
to check if a method exists on your target device at runtime. If not, you will have to go into a different code branch. Alternatively you can opt to not use any iOS7 specific API at all.
Note that there are also special things to take care of, to not only make your app run but also look nice on both versions. Apple provides a guide for transitioning to iOS7 while still supporting iOS6.
In all cases you will have to make sure that your app runs on both iOS versions, which means you need at least two devices.