well fixing the hole wont help a whole lot without getting a replacement spark arrestor. it actually does add some back pressure to the exaust and there fore make it a bit quieter. does the bike currently run good? if it does not break up on high rpm the carb is tuned for the exaust being the way it is and if you fix all that you will be running too rich. and need to adjust carb.
Trikes: All Honda: 84 250r, 85 86 and 87 250sx, 84 and 85 125m, 79 82 84 and 85 110's, 73 us 90 and 77 atc90, 75 atc70
Cycles: Honda: 71 cb100, 78 cb750 coming soon cb750 trike. Yamaha: 67 yds 3 (250cc, 2cyl, 2 stroke), 82 750 SECA
Other toys: Chenoweth VW sandrail dune buggy, old race go kart, racing mower, 76 Arctic Cat Pantera 440 snowmobile
KEEP IT ON ALL 3 OR AT LEAST 2 AT A TIME