A while back Evan posted a description of how he'd cut and glued a belt for his lathe. A search of the archives should turn it up. It would save taking out the spindle.
You may also want to check out flat belt offerings from www.mcmaster.com
Try to make a living, not a killing. -- Utah Phillips
Don't believe everything you know. -- Bumper sticker
Everybody is ignorant, only on different subjects. -- Will Rogers
Law of Logical Argument - Anything is possible if you don't know what you are talking about.