I got sick of bad guides with incomplete or completely wrong information (I tried about 5 ways of resetting my Oil Change light before digging through the manual and finding out the real way) so I decided to write my own guide. This was done tonight on a 2007 model, so I'm not guaranteeing it for older models, but I'm 99% sure that the 08's should be the same as this.
Here we go.
Something to drain oil in to
Small o-ring Suzuki PN# 09280-13004
Large o-ring Suzuki PN# 09280-54001
Suzuki oil filter PN# 16510-05240
1300ml of oil as specified in your manual (my dealer didn't have Suzuki oil so I used Honda GN4)
Step 1. Place the bike on its center stand on a flat, hard surface. I did it in the garage, worked great. Make sure the bike is pretty warm, but not too hot as to burn your hands on the engine or exhaust. Get all of your materials ready before you start.
Step 2. Remove the oil fill plug on the right side of the bike. In case you're not sure where that is, here's an illustration.
Step 3. Place whatever you're going to drain oil in to under the drain plug and oil filter cover on the right side of the bike. Loosen the 17mm drain plug and the oil will start pouring out. Be careful, it comes fast and could be hot.
Step 4. Loosen the 3 8mm bolts around the oil filter cover and remove them. Be careful not to drop them in the drained oil. Oil will gush out of the cover as you start to remove bolts.
Step 5. Once you have the cover removed, pull the old oil filter out. It just slides out. Be careful - it might be hot.
Step 6. If you look in the cavity where the oil filter was, you'll notice a little post sticking out. There's a little rubber o-ring around it. This is the smaller of the two o-rings that you'll remove and replace. Do that now. The new one just slides on. Make sure it's slid back all the way.
Step 7. Install the new filter with the shown end facing inward. When installed, the outer edge of the filter should sit flush with the outer edge of the engine.
Step 8. Before you reinstall the filter cover, replace the large o-ring shown below. Make sure to take a rag and wipe down the entire face of the filter cover (around the o-ring) REALLY well before reinstalling it. You don't want any dirt to get in the oil. Also, be sure to coat the o-ring with a bit of oil on BOTH sides before installation to help it seat.
Be sure not to over tighten the small 8mm bolts or you can strip them out. If you do, you'll have major problems, as the threads on the block will be destroyed.
Step 9. Also be sure to clean off the magnet on the oil drain plug REALLY well. This magnet attracts loose metal shavings that get in the oil from engine wear... you don't want them going back in the engine, so clean it off really well. After it's clean, replace the drain plug.
Be sure not to over tighten it. I tightened it snug, plus about 1/8 of a turn.
10. Now it's time to add the oil. I put in about 1.25 quarts to start off. If you're watching the fill window, you'll notice that you'll go past the "full" line. That's ok - when you start the engine the oil level will fill the filter chamber and the level will go down. After about 1.25 quarts is in, put the oil fill cap back on and start the engine. Watch the oil will window until the oil level levels out, and then turn the bike off. The oil level will be slightly lower when the bike is running. You don't have to get it EXACTLY on the fill line, but close is ideal.
Step 11. Your "Change Oil" light is probably on, so you'll want to reset it. To do that, insert the key and leave the ignition in the OFF position. Hold down the SEL button. While continuing to hold the SEL button, turn the key one click to the right. The "Change Oil" indicator will begin to flash... when this happens release the SEL button and the indicator will eventually turn off.
That's it! Just an FYI as to why we change oil:
I hope this helps someone out!