Is it wrong to jokingly use the term "that's so gay" among friends?

I have many friends who are homosexual, and they and I and anyone I use this term with know there's nothing wrong with homosexuality. But sometimes this term does feel natural to use, even though I am not thinking about any negative association with actual homosexuals. Is it better to just avoid saying, "That's so gay", or even joking about how gay something appears, given that we ought not to see it as anything shameful?