NASA’s Evolutionary Xenon Thruster (NEXT) is a candidate for future deep space missions that offers high efficiency and specific impulse over a large power throttling range. One of the key life-limiting components is the ion accelerator system, which is subject to sputter erosion by low energy discharge plasma ions incident on the upstream screen grid and higher energy charge exchange ions that impact the downstream accelerator grid. The grid erosion codes CEX2D and CEX3D were validated with data from tests of NEXT as well as the NSTAR ion thruster and then used to assess the time to failure due to screen grid erosion and electron backstreaming caused by accelerator grid aperture erosion. Screen grid erosion was found to be important only at the lowest throttle levels, and was conservatively estimated to lead to failure after processing over 900 kg of xenon. The first failure mode at high power levels was found to be electron backstreaming due to accelerator grid hole wall erosion, which would occur after processing over 700 kg of propellant.