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If you open the hood and pull the fuse panel cover. With the ignition switched on (key on, engine off), press the red button in the underhood fuse panel for at least 5 whole seconds. The may flash a few times but then go off. Now you're reset.
The procedure you used is for the 2006 > Vue, and will not work on your 2003. For the 2002-2005 Saturn Vue V4 or V6 - Under the hood you will see a black fuse box behind the battery. Open it up and you will see a red button, it is small and looks like a fuse but on the top it will say Oil-Res. Turn on the ignition & press and hold that button for about 10 seconds. You may want to have a friend sit in the driver's seat and watch for the indicator to start flashing, which indicates you've activated the reset. Turn off the ignition and that will reset the Oil light.
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