Feedly Lets You Migrate From Google Reader Using Google Credentials
Google Reader will sadly vanish forever on July 1st. Feedly, a rival newsreader is welcoming new users. You can also login to Feedly using your Google credentials and it will pull in your feeds. The New York Timeswrites, "Simply logging into Feedly with your Google name and password instantly re-creates your Google Reader setup. All of your news sources, favorites and tags - category names that you can apply to certain articles, for ease in rounding them up later - magically show up in Feedly, ready to use."
Feeldy also explains this handy migration technique in a FAQ. You will probably want to change your passwords once you have set up Feedly as you don't want to use the same passwords for more than one service in case one of your services gets hacked.