No, it does not work because the tank is not magnetic.
A good solution is the SW-Motech Quick-Lock System with Tankring
Alright Alanc,
I have bought the Kriega luggage system to fit on fuel tank. Haven't actually fitted it yet, but due to soon as riding down through France into Spain end of month. Everyone I have spoken to raves how good their stuff is and just taking it out of the box it feels quality. Will post some pics online once I have fitted it. Enjoy your new bike.