sv_chost.exe is an executable file that starts a malicious process, launches certain parasite components or runs a destructive payload. Even if the sv_chost.exe file does nothing suspicious, its presence indicates that your computer is infected with a particular threat.
The sv_chost.exe file is installed and used by Wanda.
You have to delete the sv_chost.exe file immediately after you have found it. The parasite will continue to violate your privacy and harm your computer unless sv_chost.exe and all related objects will not be completely removed from the system. If you have difficulties erasing the file consider using an anti-spyware program.
In some cases a presence of sv_chost.exe does not mean that your system is infected. The file may actually belong to some fully legitimate applications and therefore must stay intact. If you are in doubt, please scan the sv_chost.exe file using you regular spyware remover or antivirus program.