My hba1c is currently 8.5 but trying really hard to get it down i am 5 weeks pregnant will my baby be ok? what's my chances?

Hard to know: There is nothing you can do now except try your best to control your blood sugar and bring down your a1c. At a level of 8.5%, you should be on Insulin therapy. Follow up with your doctor as directed. An endocrinologist is helping in this case to work with your blood sugar.

10% risk birth defec: I would anticipate an increased (10%) risk for birth defects in your offspring with periconceptional hyperglycemia as you report. See a genetic counselor and a maternal-fetal medicine specialist (+/- endocrinologist) to get your blood sugar under control with Insulin and take Folic Acid at 5 mg daily. 90% of the time you will still get a healthy baby. Get detailed ultrasound/echo at 18-20 weeks.