It does sound like the ignition switch. Dion (djh3) who replied above, makes a bypass that is plug and play. I have purchased one from him and it is a quality item.
These are in tech tech library and may help you diagnose it:
http://www.venturerider.org/forum/showthread.php?75398-By-passing-the-Ignition-switch
http://www.venturerider.org/forum/showthread.php?32359-Ignition-Switch-Wiring-Failure
http://www.venturerider.org/forum/showthread.php?512-Emergency-Ignition-Switch-Repair