As a Google Reader user, you must have by now seen the message from google about Reader being decommissioned. Google Reader was an average tool, a dumb one that just collates all my news subscriptions.
Folks at Feedly should have been having a blast and partying all night. Though Reader was not a big competitor for them, it would have been a pain in the ass, loosing sleep over the thought that Google might release a better version tomorrow.
I will not be giving Top 5 or 10 suggestions on what are the alternatives for Google Reader. Afaik, Feedly is the way to go. Feedly can import all your Google Reader feeds, so no worries about copy pasting all links.
And, yes now there is a blog post from Feedly on steps to migrate.
If you have an iPad, then Feedly app for iPad is must have.
For folks who aren't convinced that one alternative is not an alternative. Here are 7 other alternatives to Google Reader (the original article is about 8, expect 7 since we have already covered feedly).