And it appears the parents have no problem with the magazine. The appropriate action to take here would be to confiscate the magazine until after class, call the parents and let them he can't bring it again. Simple plan. It's SPORT ILLUSTRATED and its women in SWMISUITS. Like another poster said, he could go to the swimming pool or beach and see many people beautiful and otherwise wearing very little clothing. No one seems to object to bringing their kids to a beach or pool! And its a special of Sports Illustrated so its not illogical that a kid would have a subscrpition to the most popular sports magazine in the world that once a year publishes a swimsuit issue. If it was causing a distraction, a simple call asking not to bring it again would have solved it. Really even if it was Playboy I would say the same thing (although it would be a little odd if the parents didn't have a problem with that- but really, its SPORTS ILLUSTRATED). Suspension. Bah.
If you read further up... I agree. However I do also think that parents have the right to block their kids from seeing porn, etc and not want the kids exposed to it.