Water-continuous emulsion of silylated elastomeric polymers are disclosed having a solids content of greater than 75%, an average particle size ess than 5µ, and having sufficient stability to produce a stable lower solids emulsion upon dilution with water comprising; a silylated elastomeric polymer, surfactant, water, optional plasticizer, and optional low molecular weight acid.The water-continuous emulsions of silylated elastomeric polymers can be prepared by; (I)forming a premix comprising an elastomeric polymer and surfactant, and optionally a plasticizer and low molecular weight acid, and (II) adding water to the premix with mixing to form a water continuous emulsion of the silylated elastomeric polymer having a solids content of greater than 75%, an average particle size less than 5µ, and having sufficient stability to produce a stable lower solids emulsion upon dilution with water.