You pull the upper part of the back seat out a little ways, or you can take the whole thing out if you want, but it is not necessary. To get the seat loose, you remove the two nuts off from the insanly long studs in the trunk.
Next you pull the carpeted part of the rear deck out by pulling the "stab-tabs" out and pulling the carpeted out. Now you can see the tops of the speakers.
I used standard fiberglass house insulation because I had some just lying around, but you can use any insulating material you want (The foam topping that you can buy for mattresses, cotton stuffing, old clothes, etc). Dynamat or any other brand of soundproofing will also work nicley. I wouldn't spend more than $20 on it tho.
Reinstall the carpeted part and the back seat.
Now for the under part. I put cotton stuffing from stuffed animals I won from "Claw machines" in the stock dip for the speakers in the black carpet that is back there. I also put the stuffing across the under side. Again, you can use whatever you want or have avalible.
Total time for me was an hour and the results are well worth the time. Espically if you don't have the money for a newer system and want to juice the stock system up a bit.