So I just had to deal with this myself and made a small modification to the bigsuds module.
At line 23 I added a variable -
timeout = 5
Change the value to the number of seconds you want the new timeout to be.
Then at line 226 and 227 you will see where the suds Client class is called like so -
client = Client(url, doctor=doctor, username=username, password=password,
cache=cachedir)
After the cache attribute add the timeout object -
client = Client(url, doctor=doctor, username=username, password=password,
cache=cachedir,timeout = timeout)
Not the most elegant but it works. Perhaps in the next version of bigsuds it could be an attribute set in the BIGIP class args?