What does the guy mean?

He's asking you a little bit of how's your father. Same as saying, "nice shoes, wanna F@#&".

Well, as lostandconfused said, does he own or ride a bike? If so, that may be all he's asking. If not, steer clear of the jerk - it's not a nice way to ask if he can sleep with you. It basically means (toned down, of course) "do you want to ride me? "
The setting and the way he said it might be relevant too. Was he flirting or joking around when he said it? Or was he nervous of what you'd say?

Whats he really is asking is do you wanna be on top of him and that is what a guy would call ridding a bike or horse or how ever they put it.

Well does he ride a motorcycle? If so maybe he just wants to take you for a ride sometime. I'm going to need a little more details as to what led up to him asking you that.