Respectfully to previous respondent, there is no rubber drive on the generator.
The Regulator is a very weak component on the Gen 1 SV and most likely your failed component.
You can do a thorough diagnosis by following my procedure here - http://eviltwinsbk.com/forumz/index.php?topic=276.0 - see same article for a recommended replacement that will perform better and be much more reliable.
Common problem is broken alternator drive, remove it from rear of moter and it will look likew broken rubber, about eight quid to fix,if ok then voltage regulator is also common suzuki problem and cheaper to fit aftermarket one which dont burn out!
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