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1.
A shortened version of serious business.
Often used by individuals that like spending a fair bit of time on the internets. This word can also evolve into other simular words in order to express different situations or people, for example 'serboss' (a serious boss) and 'emerbus', (a serious fucking emergency).
"It's time to get serbus".
"She's so fucking serbus, LOL".

"Guys, this is now emerbus!".

"He is the serboss, don't mess!"

by Chimz August 01, 2008
 
2.
A shortened version of the term 'Serious Business'. When something is said to be of a really serious nature but often with a partically sarcastic and humourous tone put to it. This term was made famous on the web with the photo of a smug grinning man stood in front of a PC moniter with the caption, 'Internet - Serious business' written on it. Many different hybrids have spawned from this over time.
'The internet is serbus'.
'This office is seriously serbus'.
'Hey check out this guy on the internet, he's so serbus'.
'That's proper serbus!!'
'It's time to get serbus!'

by The2Kguys September 11, 2008