YES
It's a FACTORY alarm valet switch. When it's on, the light will blink when the vehicle is off, and if the alarm is working correctly, will auto-arm after 60 seconds. (I HATE this auto arm. I'd like to just be able to turn the alarm on and off only with the key fob.)
The valet switch works like this - put the key in the ignition, turn to ON (not START) and flip the switch UP and then turn the ignition OFF. This should turn the alarm system ON. Do the same to turn the switch OFF (flip it DOWN).
(I believe it's this way, could be DOWN then UP but I can't remember.. I'm inside at work and it's a walk to get to my truck.)

I posted instructions also on how to program key fobs on here once.. too. I still have my "Suzuki Security Alarm" booklet in my glovebox. LOL