Maybe the head gasket, water pump, thermostat or blocked radiator, we had one in the shop that was pressurizing the expansion tank, when we took the head off it was warped and full of sludge.
A few ideas to check before you take the head off
1. Is the radiator getting warm?
2. Does the fan come on?
3. Try starting the bike with the top off the expansion tank and see if there's any pressure there, is it blowing water out of the tank, this will indicate a blown head gasket
4. Try removing the thermostat and running the bike without it, if it doesn't overheat then its the thermostat.
Best of luck let me know how you get on
Jasper, December 2009