This is super simple as well. Using a screw terminal board, I just connected one wire to ground and the other to a digital input. The water meter contains a reed relay contact switch. As the meter reads each gallon of water, it connects and disconnects the switch. All ioBridge needs to do is read the numbers of times the switch closes to get the number of gallons used. The latest revision ioBridge modules have built in
pull-up resistors, so I didn't even need to add them myself (as done here with the
Twittering Toaster)
If you aren't familiar with ioBridge, check out there website
here. Basically, they sell a little box that allows you go control/monitor things from the internet.