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It hasn't aired yet. In fact I believe that you will have to wait quite a long time, since the latest naruto shippuden episode (153) corresponds to the Naruto Manga Chapter 406
Episode 242 is trying to catch up to the latest manga chapters. Most likely this episode is equivalent to chapters 491 to maybe 493. Then chapter 494 will be caught up with the next episode of Naruto Shippuden.
At narutoget.comNote: Some of the Naruto and Naruto Shippuden episodes only play in dubbed and subbed. No need to download to watch the episode, it's free, though download is available if you choose to.
In the USA and UK it will be out in about two and a half weeks
i would try Funimation.com, Vodpod.com tailedfox.com has all Naruto Shippuden in high resolution as well as all downloads to all Naruto and Naruto Shippuden episodes including http://www.tailedfox.com/page-naruto-shippuden-140