If you already have a reference to a radio button group, for example:
var myRadio = $("input[name=myRadio]");
Use the filter() function, not find(). (find() is for locating child/descendant elements, whereas filter() searches top-level elements in your selection.)
var checkedValue = myRadio.filter(":checked").val();
Notes: This answer was originally correcting another answer that recommended using find(), which seems to have since been changed. find() could still be useful for the situation where you already had a reference to a container element, but not to the radio buttons, e.g.:
var form = $("#mainForm");
...
var checkedValue = form.find("input[name=myRadio]:checked").val();