I havn't seen to many threads on this and the ones I did see were not very informative. This Thread will walk you through how to do a keyless ignition set up that will be very sleek and bullet proof. It lacks pictures so I will describe in great detail. The picture I will have will simply show a finished product.
Remove the seat and disconnect the battery. Just remove the positive terminal from the battery. That terminal is the one with the red plastic cover and a + sign. This will keep you from burning up your starter relay when you cut the ignition wires. Once you have the battery diconnected you can cut the wires that lead to the ignition switch. There is a plastic cover that goes around all the wires. I would try and save as much of this as possible. So peel it back and then cut the wires about 1 inch from the ignition switch. There should be at least 5 wires. Depending on your year of bike there may only be 4. 2003 and later bike will have 5 wires. You will have to add wire to the existing ones so length is not super important.
Remove your tripple clamp. The 03-05 style bikes will require the removal of the clip ons. This is the easiest part. A basic metric allen wrench set will be needed to remove the clip on bolts and other attached parts. You will need a 36 mm socket to remove the triple clamp nut from the steering stem. I would suggest having the front tire in the air. You can do this by supporting the bike from the exhaust or a triple tree stand. When you take off the triple clamp the forks will shift and will make it difficult to put the triple clamp back on. By at least having some off the weight off the front tires it will help ease some of the stress of not having the triple clamp in place. Once the triple clamp is removed the fun part begins.
Third and most difficult part.
The ignition switch is held in from the bottom with two headless bolts. They are rounded and locktighted in place. The only way to remove them is to drill them out. The easiest way is to use a small 1/8 " drill bit. Center punch the bolts and drill far enough down to clear the shank of the bolt head. Next use a 1/4 inch drill bit and go back through the hole you just drilled with the 1/8 " bit. This should put you pretty close to the size of the bolt. A 5/16" drill bit should polish off the job of removing the bolt head. If not just use the next bigger size drill bit untill the bolt head is removed. You need to be as accurate and centered on the bolt head as possible otherwise you will need a dremel tool to grind away the bolt head. Once the bolt heads are removed the ignition switch can be removed from the triple clamp. A vise grip can be used to remove the bolts that are left in the triple clamp. I suggest leaving one of them in and grinding it down nicley so that a nut can be used on it to use as a grounding post for the illuminated toggle switch. The size of the bolts that are in the triple clamp are M8-1.25. This is the hardest part. Have fun......
The electrical fun. You will have noticed that when you cut the wires that there was 5 wires that all consisted of different colors. I will tell you what each one connects to. There are 2 small wires that are blue in color. And there are 3 big wires. There will be a red, brown and orange wire. The red and the orange are both hot. The brown wire is the ground. The 2 small wires are very easy to deal with. The 2 small wires ( very obviouse Ones ) can just be crimped together, soldered together, or twisted together. Whatever floats your boat. They are ignition switched and can be connected all the time. The orange wire is not going to be used any more. You can just cover the end of it with a crimp or electrical tape. The RED and Brown wires are going to need a short length of equal gauge wire attached them. You will need about 4" of additional wire for both the red and brown wire. Crimp this additional length of wire to both the red and brown wires, and then electrical tape the connections for safety.
Next you need to have your switch in hand. I used a 30 amp rated rocker switch from Kragen auto parts that has a fancy led light the turns on when the switch is on. There are three connections. There is a hot, a ground, and an earth connection. You will need the appropriate connectors for the wire leads to attach them to the switch. Or you can solder them. Wait to solder untill final assembly we are in test state right now. We want to find out that everything is working correctly first. With all the other wires electrical taped and tucked away the only two leads out and about will be the red and brown leads. You can now re-connect the battery. This will allow you to check that the bike starts and all funtions are working properly. This should include your switch. When all things are working properly electrically it's time to move on to the next stage. here is a photo of the switch I used from KRAGEN.
The fun part.
I used a threaded pvc pipe end cap and another threaded plug. The size you need is 1-1/4" fittings. There are pictures to refer too. The first pic is the bottom part and will be used to hold the switch base in place.
This is the top part that will hold your switch in place.
You will need to drill a 1/2" hole in the center of the bottom end cap. the hole in the top part will need to be sized for your switch. Most switches use a 1/2" hole. Place your switch in the top part and attach it with the appropriate parts. You should now have the needed electrical connectors on the red and brown leads that will be used to connect to the switch. You will need an additional ground wire in order to make any light work in the switch. Make those now. I used the hole where the old ignition bolts went as a grounding post.
You at this point need to re install the triple clamp. Replace the triple clamp as needed and then torque the triple clamp steering stem nut to about 90 lbs. The bike should be safe to put back on the ground as normal. youare about ready to install the switch unit.
Run the red and brown leads up through the bottom pvc fitting, and through the hole where the old ignition switch was and then connect the wires to the appropriate switch connections. Place the top switch unit down through the hole so that the two halves can be threaded together. Remember that you will need your ground wire run through the bottom fitting before closing things up. Thread the two halves together and tighten them up so the switch is in place. You should now have a funtioning switch with only a ground wire to attach. As I said I used the old bolt holes to attach a ground wire. Test everything again and be sure to check for any clearance issues. You want the wires yo move freely and without snagging. Here are some pictures to help see the hole thing as I have done it.
Here are a couple of bottom pics with the wires showing. Note the ground held in by an M8-1.25 bolt.
another bottom shot. A little bit clearer.
This shows a good side view of the finished product. Note how the fittings clamp to the triple clamp to hold the switch unit in place.
Here are a couple of the finished product. You can paint the pvc fittings if you want to. I decided to leave them white. Notice the nice red led lamp letting me know that the power is on.
I hope this helps a few people out. I will also note a few need to knows to help clear things up.
1. Remember that when you remove the triple clamp the forks will shift.
2. There are 5 wires. some bikes only have 4. Either way. There is always at least 2 big wires and 2 small wires. The 2 small wires can simply be crimped together permanantly. The orange wire is not needed. The Red and brown wires need extra length and are attached to the switch of your choice. Be surr that switch is rated for at least 10 amps.
3. The pvc fittings can be puchased at your local hardware store such as ACE, or ORCHARD SUPPLY HARDWARE. The fittings are 1-1/4" refer to the pictures as to the needed styles.
4. test everything first before completion. You want to be sure that everything works still.
5. tools needed. Basic metric allen wrench set. 1/8", 1/4", and 5/16" drill bits. 36 mm socket for steering stem nut. Drill gun. Basic hand tools, patience, wire cutters, electrical tape, wire crimpers or soldering kit, and more patience.
6. think things through. This is a nearly permanant project. You can create more problems for yourself if you are not certain of what to do.
7. REMEMBER TO DISCONNECT THE BATTERY BEFORE CUTTING WIRES. LEAVE IT DISCONNECTED WHILE DOING THE ELECTRICAL WORK. ONLY RECONNECT THE BATTERY WHEN YOU ARE READY TO TEST THE SWITCH.
8. Have fun knowing that you will never have to worry about a key again. Just don't leave your bike out where the thieves can get to it.
9. I am not responsible if you mess stuff up. I am a competant mechanic. I know what I am doing. I am not responsible if you are not an able mechanic. Please be certain of what you are doing. Don't blame me If you cannot perform the tasks.
THANKS AND BE SAFE.