It depends. When I upgraded from my Bionic to my Gnex I had to get a new one since the latter uses a micro SIM whereas the Bionic is a standard size.
If your new phone takes the same size, you're fine (and you'll hear that in the recording when you activate). If not, you'll need a new one. Doesn't cost anything, but you'll need to go to a seller (doesn't have to be Verizon, I swapped at a RadioShack) and get a new one.
