Don't ask me why, but I've always liked the look of the ignition down on the airbox (see pic of Special K below). This winter I'm refurb-ing my whole air/fuel intake system, so while I have everything apart down there I'm taking a whack at it.
First I took a hacksaw to my beat-up, ugly dash pad, and cut out the section that holds the ignition lock in place. I now have that reduced to basically a tube that holds the lock. Next I sawed about 1/8" off the face of the tube, to allow for the thickness of the airbox.
That's as far as I've gotten. Next step is to drill the hole in the airbox, then cement the tube with the lock to the inside of the airbox. Not sure what adhesive to use, but I'm leaning toward the JB Weld that's made for plastics. When I'm done the regular trim collar will press on from the outside.
Two main pitfalls I can think of: First, the lock won't be removable (at least in a nondestructive way) when this is done. Second, if the glue fails and the lock falls into the airbox, I could be seriously stranded.
Sorry no pictures yet, I will try to post some soon. My bike tinkering and my posting are seriously impaired this winter due to life.
If anybody else has done this and has some tips, I am all ears.