move git repository out of a folder?

Let's say I've got this directory structure of source files:

/folderA /folderA/sourcecode/ /folderA/sourcecode/file1.txt /folderA/sourcecode/file2.txt etc...

When putting the project under git source control, I did this:

cd /folderA git init

So now when colleagues clone my repository, they get the source code in the "sourcecode" folder. I'd like to just make the repository simply give them the source files, not in a directory. In other words, as if I had originally been smart and done this:

cd /folderA/sourcecode git init

Can I make that happen without losing all of the history?

Thanks,

Sean