It varies with the area, obviously. In some areas, only the true hardcore and adventurous people dare to venture out on a bicycle - and among the highly hardcore and adventurous people the males generally constitute a higher proportion (even though there are females there as well, such as myself - although sometimes I'm not sure whether I should classify myself as hardcore or just foolish and crazy

). In areas where cycling is more accepted and is seen as a more safe and everyday thing more women join in.
In downtown Toronto, where cycling is fairly well accepted, I see a lot of women riding. Probably as many as men - in good weather. In bad weather (by that I mean winter with snow and subzero temps) all cyclists are so bundled up that I have a hard time determining their gender.
Another thing: I wonder how many people mistake me for a teenaged guy when I ride around. As some encounters lead me to believe, it could be surprisingly many.