You may be able to keep the 110 and still get into the 10s with going to a Chain drive.
I am sure one of the guys that races could get you really close with out spending so much money. If it don't go as quick as you want you then can go after bigger cubes.
Going to the bigger cubes you still may need to change over to the chain drive anyhow when you are leaving that hard. You are going to tear up belts.
Hillside cycle may chime in here. I am sure they could get that bike into the 11 to ten second range for a lot less money and broken parts than just going with a bigger engine.
I myself would change sprockets and see where that got me first.
Todd.