I\'m using Google\'s Android Studio 0.1 based on IntelliJ, and I cannot figure out how to add additional SDKs to my project.
I exported my existing project from Ecli
For those starting with an existing IDEA installation (IDEA 15 in my case) to which they're adding the Android SDK (and not starting formally speaking with Android Studio), ...
Download (just) the SDK to your filesystem (somewhere convenient to you; it doesn't matter where).
When creating your first project and you get to the Project SDK: bit (or adding the Android SDK ahead of time as you wish), navigate (New) to the root of what you exploded into the filesystem as suggested by some of the other answers here.
At that point you'll get a tiny dialog to confirm with:
Java SDK: 1.7 (e.g.)
Build target: Android 6.0 (e.g.)
You can click OK whereupon you'll see what you did as an option in the Project SDK: drop-down, e.g.:
Android API 23 Platform (java version "1.7.0_67")