Take the exhaust of, drill holes on the opposite side of the pipe to the dent. Get some metal rod (old bolts?) to feed through the hole, and bash the dent out from the inside.
Could then get one of those exhaust wraps for leaky car exhausts to cover the holes and use that as a stop gap measure till you can make more permanent arrangements.
Personally I'd leave of doing anything till you can do a proper job on it. Otherwise you could end up going from a functional exhaust to a totally rooted exhaust.
When it comes to repairing it, you're probably better of gas (or Tig) welding it, as opposed to using a mig machine. Less chance of getting metal building up on the inside of the pipe (hence restricting gas flow in the pipe). Another usefull side effect is that you'll be able to use the gas torch to heat the dented metal up to shape it easier.
Just my 2c....
If it ain't a V twin, it ain't worth shit.
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