Unable to make or receive phone calls; searching for service.

Last night my iPhone 4 started constantly searching for service. I would get full bars in 3G then go to searching, no service, then back to full bars. It does this constantly. My battery drained by 50% within an hour. Any call I try to make instantly drops; I can't receive phone calls (or voicemails) and I can't send or receive texts unless I'm in WiFi. This just started last night. Any help?

See if this Assistant Helps
http://www.apple.com/support/iphone/assistant/calls/
The Basic Troubleshooting Steps are:
Restart..  Reset..  Restore from Backup..  Restore as New...
Try this First... You will Not Lose Any Data...
Turn the Phone Off... ( if it isn’t already )
Press and Hold the Sleep/Wake Button and the Home Button at the Same Time...
Wait for the Apple logo to Appear and then Disappear...
Usually takes about 15 - 20 Seconds... (But can take Longer...)
Release the Buttons...
Turn the Phone On...
If you cannot Resolve your Issue... Then a Restore would be the way to go...
Backing up, Updating and Restoring
http://support.apple.com/kb/HT1414

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