O2 sensors are generally quite easy to replace; they're simply screwed into the exhaust system. The LS has four, one before and after each cat. The Bank 2 O2 sensors should be in the passenger-side exhaust; you can't miss 'em. They'll take (IIRC) an 11/16ths or 13/16ths wrench (I use a flare-nut wrench, but an open-end/box-end wrench will work); they're ~2" long sticking out of the exhaust (perpendicular to the exhaust, parallel to the floorpan), with an electrical lead sticking out of the end.
I haven't replaced the sensors on my LS, but I've replaced them on other cars. The majority of the time spent on the job is in the setup; the sensors normally just screw right out after you disconnect the electrical connector. When you put the new one in, it should have anti-sieze on the threads--if not, put a small amount on them.