I don't know if this works, but here's what NYTimes' article on "Low-Tech Fixes for High-Tech Problems" tells you to do.
It could happen to anyone: you dropped your cellphone in the toilet. Take the battery out immediately, to prevent electrical short circuits from frying your phone’s fragile internals. Then, wipe the phone gently with a towel, and shove it into a jar full of uncooked rice.
It works for the same reason you may keep few grains of rice in your salt shaker to keep the salt dry. Rice has a high chemical affinity for water — that means the molecules in the rice have a nearly magnetic attraction for water molecules, which will be soaked up into the rice rather than beading up inside the phone.
I am not shoving that cell phone in my jar of uncooked rice!!!
Read more low- tech fixes at http://is.gd/k6tp