It is serious:
The appearance of the Flying Spaghetti Monster on the agenda of the American Academy of Religion's annual meeting gives a kind of scholarly imprimatur to a phenomenon that first emerged in 2005, during the debate in Kansas over whether intelligent design should be taught in public school sciences classes.

Supporters of intelligent design hold that the order and complexity of the universe is so great that science alone cannot explain it. The concept's critics see it as faith masquerading as science.

An Oregon State physics graduate named Bobby Henderson stepped into the debate by sending a letter to the Kansas School Board. With tongue in cheek, he purported to speak for 10 million followers of a being called the Flying Spaghetti Monster -- and demanded equal time for their views.

"We have evidence that a Flying Spaghetti Monster created the universe. None of us, of course, were around to see it, but we have written accounts of it," Henderson wrote. As for scientific evidence to the contrary, "what our scientist does not realize is that every time he makes a measurement, the Flying Spaghetti Monster is there changing the results with His Noodly Appendage."

...

The presenters' titles seem almost a parody themselves of academic jargon. Snyder will speak about "Holy Pasta and Authentic Sauce: The Flying Spaghetti Monster's Messy Implications for Theorizing Religion," while Gavin Van Horn's presentation is titled "Noodling around with Religion: Carnival Play, Monstrous Humor, and the Noodly Master."

...

Lucas Johnston, the third Florida student, argues the Flying Spaghetti Monsterism exhibits at least some of the traits of a traditional religion -- including, perhaps, that deep human need to feel like there's something bigger than oneself out there.

He recognized the point when his neighbor, a militant atheist who sports a pro-Darwin bumper sticker on her car, tried recently to start her car on a dying battery.

As she turned the key, she murmured under her breath: "Come on Spaghetti Monster!"
Via reason.com. Take a look at the image accompanying the article. :-)