Go to http://www.bloglovin.com/import/reader
Click that blue button that says 'Import from Google Reader'
All the feeds will be imported and it doesn't take long!
Benefits of Bloglovin':
As much as I loved the simplicity of Google Reader, Bloglovin has such a nicer layout: you can see the photo, the post title and a snippet of text. It may take a bit of time to get used to but I'm sure we'll all love it soon enough! I remember when everyone got upset because everyone started using Facebook instead of Bebo.. oh those were the days.
In the meantime, you can follow my blog here: