1) attach weights to it (so it doesn't float)
2) place it in a volume of water
3) measure the change in height of the water level
4) take it all out
5) put just the weights in
6) measure the change in height of the water level
7) subtract 6) from 3)
8) convert height to volume by measuring the cross-sectional area of the container
Source:
http://answers.yahoo.com/question/index?qid=20081015183719AAMnQsp