Any machine shop can cut the hole for you in less than 10 minutes. You'll pay anywhere from $20 to $40, depending on how busy they are. Otherwise you can do it yourself with a hole saw, or send it out. EspressoParts will do it for $25, though call first to confirm they have the tooling for smaller portafilters. Last I spoke with Lino (profile), he'll also do it for $25 and he has a huge metal lathe to do it right (he makes the "Verna Original" bottomless for Chris' Coffee).
Well here comes this topic just as I start thinking I may have gotten lazy with my distribution because there's no bottomless PF on the Lusso to keep me honest. Thanks for the PF cut reminders! Now I just need to find a spare... anyone have a cheap Ponte Vecchio or Sama PF they'd be willing to send my way? (OK, I'll save it for the CoffeeGeek Buy/Sell/Trade forum.)