Fuel delivery system problem

I have a 2008 Silverwing 600 and lately, a red light is showing up on my dash. My owners manual says it's related to the fuel delivery system. The engine will cut out for 15 - 20 seconds and then continue on. Could this be a filter problem or should I look for something else?

Also, my V belt light has come one but there's no change in the bike handling. Is replacement necessary at this time, or can I just have the belt adjusted?

Thanks!