Tried to search the answer, but no luck, so I'm asking here.

Does the immobiliser emulator work in models 2004-2005? Just bought crashed 2004 with one key and emulator would be perfect solution for the key problem.

Hi and welcome. I don't think answers on immobiliser bypassing / emulators would be a subject discussed on this or any forum for obvious reasons. Welcome anyway and good luck finding an answer.

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I have a lot of growing up to do. I realized that the other day inside my fort.

Most key places can copy a key from an original coded key. From memory my local place charges �40.

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2011 xt660z.
Yoshimura cans ,kev mod,Dna 2, Stahlkoffer panniers,Hepco Becker box,Givi crash bars,Mita e07 tyres.

Can the new key be made from black key? I assume it has to be programmed to bike.

No. You need the 'master' red key..

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I have a lot of growing up to do. I realized that the other day inside my fort.

....which I don't have. Can't understand how that key red could be any different than those copies.

Still would like to know if the emulator fits this year model. Of course could change the ECU, antenna and keys, or have the old ecu reprogrammed for new keys. However the emulator would be much cheaper option.

Had a quick look for you at the Yamaha workshop manual (available from this forum) and on page 8-30 it states the bike's immobilser is designed to prevent re-registering codes from the standard key. It then explains the red key has a transponder for the purpose of registering other blanks. It then goes on to say it is impossible to register blanks without the red key and an entire immobilser group would need replacing.

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I have a lot of growing up to do. I realized that the other day inside my fort.

But if you make a copy of a key, how can the immo know that this is somehow different key than where it was made.

I guess the immobilser doesn't know. It's the fact that you can't make a new key, in the 1st place, without the master and OBD programming, which basically means you, the red key, the bike and the new key all have to be together and go through a 'process' as described in the manual to create a new key.

If you know a place that says they can copy any chipped key, go for it.

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I have a lot of growing up to do. I realized that the other day inside my fort.

Solved the key problem just by making a copy my black key in my town locksmith(100eur). The red key is just a key among other keys, not actually needed for making copy's of your key.
Ordered the emulator also, because it was so cheap(about 3$). Will see if I'll test that. Can't see any reason why it would not work. It would still be cheapest way to get a non key bike running.