Winston,
Just pulled mine to repair a horn "gremlin", which caused my horn to go off on its own. Fun!
You need a T30 torx bit, and I think a 21mm socket (or is it 19mm? - you'll find out) with an extension.
Disconnect the battery cable for at least 45min beforehand to aviod the airbag light activating when you reconnect everything. Anyone jump in if I am screwing this up. After you loosen the torx screws (make sure to sink the tool all the way in and apply pressure while breaking it loose or you will strip that sucker, very easily...) located at 3 and 9 o'clock on the body of the steering wheel (if you have OEM), pull the airbag straight out. It should come easily.
After I pulled the red connector out of the airbag, I used my legs to brace the steering wheel while turning the nut off to remove the wheel.
Remove the black cover (4 screws - don't lose them) to expose the slip ring. Use the appropriate lube and put everything back together.
30 min tops.
Good luck.
Scott