You can park across the street at Ann Arbor Pioneer High School. It is kitty corner from the big house, you can't miss it. I believe it's 5 or 10 dollars to park there. You can also park in the neighborhoods on the street if you want, thats free.
Parking For Michigan Basketball Games
Agreed with above. On campus, you can cruise around the Benjamin, Mary, S. Division streets near Elbel to try and find an open spot. It's only a short walk to Crisler if you cut through by Revelli Hall.
So here's a picture for your troubles:
Did you get to this page on mgoblue.com? It seems to have the most up-to-date info and says parking at Pioneer this year is $10.
Pioneer would certainly be your best bet for a regular season game--particular Big Ten or major nonconference opponents--but I doubt the crowd will be very big for the exhibition on Friday, so you might want to try for on-street parking as noted above.
I normally park on Rose Ave (or any of the streets near it such as Golden or E. Park Pl). It's about a 5-10 minutes walk to the stadium and it's free street parking. You shouldn't have trouble finding parking for a basketball game. Football it'd be backed up.
[edit: click the zoom out button to see the full route]
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