No Turbo for me....
If you want a bike that has a bit more power - while still has simplicity and reliability....then you need to do engine upgrades to the piston, cam, cylinder head, muffler, header, carb. (Or the cheaper and easier route is to just buy a bigger and faster motorcycle).
If you want a complicated project, a bike that is more to work on or look at then it is to ride, then you could try to install a turbo. As Gary said...the stock oil system on this bike cannot handle the additional oil flow (or cooling) that a turbo needs....you would need to add an additional oil pump for the turbo, and it can't be electric as the bike doesn't have enough capacity to run additional electric components.
And.....it is not just an expensive bolt on piece. You will pretty much be on your own to design and fabricate it. The Savage engine is primitive....it does not have a knock sensor, fuel injection, oxygen sensor...or any of those things that modern fuel injected cars have that can adapt to a bolt on turbo kit. There is no computer that can take readings from various sensors and adjust the fuel and timing to compensate for what is going on in the engine, and the engine most likely will run poorly or self destruct unless you spend a lot of time tuning and adapting things.
Here is a link to Savagebob's 1.5 year supercharger thread. It is no easier than a turbo, and in the time he has been working on it I have ridden my bike 6,000 miles. Do you want to spend time in the garage....or on the bike riding? (sorry Bob).
http://suzukisavage.com/cgi-bin/YaBB.pl?num=1372223359/0