Harlequinnut, IMO Try not to leave the saddle valve on the pipe, They will fail in time and the leek will be soo small you wont realize it until you cabinet or wall is soaked and moldy. If you can do it yourself, find a shut off closer to your meter and shut it off. There should be another one on the cold line. Use a small pipe cutter and cut the pipe as close to the pin hole as you can on both sides of it. Crank down on the cutter just a little at a time, go easy.Get a half inch by half inch compression coupling at hardware store. Push both ends of the pipe into each end of the couplin and tighten each end, go easy dont take to much strength. Turn on valve and check for leeks. Should be good. PS dont cut pipe or remove saddle valve until you try faucet make sure cold side is off. Hehe or you could just call a plumber.
small job not to much cash Good luck,
Plumbers son