.. but not here 🙁
According to the Google Reader Blog the new search box is located directly above the reading panel to the right of the Google Reader logo. A pity I can’t see it here in Firefox. According to the blog it lets you search your subscribed feeds. If you want to do a blog search outside of your feeds then get thee hence to Google Blogsearch.
A quick check in Opera, my second browser of choice, revealed nothing. A totally blank page! I did, however, manage to spot the elusive search box in IE 7 and it seems to do what it claims.