You should only use a JASO MA certified motorcycle oil. 10w-40 for cold climate and 20w-50 for warmer climate...3.7 qts with filter change.
Personally I wouldn't use 20W50...not because the oil wouldn't lube the engine well or anything but because 20W50 doesn't go through a filter as easily as 10W40. The Maxim-X has a very low by pass pressure, so low in fact that some people have theorized that the oil might be bypassing the filter a lot more often than thought. Heavier oils increase the back pressure just a bit more and that adds to the likelihood that the bypass gets tripped allowing oil to circumvent filtration entirely. Have a look at this diagram to see how oil flows either through the filter or the bypass valve in the standard Maxim-X oil filter assembly: http://www.maxim-x.com/pix/oil+filter/maxim-x_oil_filter_flow_diagram.gif
This is, in part, why many people abandon the standard oil filter assembly of the Maxim-X and install a spin-on adapter.
Personally, I like to err on the side of caution by sticking with 10W40 or 15W40..... that's much closer to what the manual recommends ( 20W40 except in the coldest of weather ).
wHERE DOES ONE PURCHASE A SPIN-ON ADAPTER FOR THE 700 MAXIM-XJ 1985?
A guy named Mike O'berle used to make and sell the spin on adapters but he passed that work on to a guy named Len Chacal at XJ4ever. I'd give you his e-mail address but I'm not sure that's allowed in an open forum so I'll tell you this.... do a Google search on the name 'Len Chacal" and click the first link you see to XJBikes.com. That will bring you to a message posted on the XJBikes forum with Len's e-mail address mentioned right in that message :-)
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