The Sun does not have enough mass to explode as a supernova. Instead, in 4-5 billion years, it will enter a red giant phase, its outer layers expanding as the hydrogen fuel in the core is consumed and the core contracts and heats up. Helium fusion will begin when the core temperature reaches around 100 MK, and will produce carbon and oxygen. While it is likely that the expansion of the outer layers of the Sun will reach the current position of Earth's orbit, recent research suggests that mass lost from the Sun earlier in its red giant phase will cause the Earth's orbit to move further out, preventing it from being engulfed. However, Earth's water will be boiled away and most of its atmosphere will escape into space.

http://en.wikipedia.org/wiki/Sun