Comment 34 for bug 99755

I found a possible solution in the ubuntu forums but I haven't tried it myself (still running gutsy and acpi because I couldnt deal with losing suspend/resume)

Create the following file: /etc/pm/sleep.d/25i8042

Code:

#!/bin/bash

case "$1" in
 hibernate|suspend)
  # Unbind the AT keyboard interface.
  if [ -f /sys/bus/platform/drivers/i8042/unbind ]; then
   echo -n "i8042" > /sys/bus/platform/drivers/i8042/unbind
  fi
  ;;
 thaw|resume)
  # Rebind the AT keyboard interface.
  if [ -f /sys/bus/platform/drivers/i8042/bind ]; then
   echo -n "i8042" > /sys/bus/platform/drivers/i8042/bind
  fi
  ;;
 *)
  ;;
esac

exit $?

Make sure this file is executable. There is no need to reboot your computer - your next suspend should work. Please let me know if this works for anyone else.