Depends on if the cop is a dick or not, and if youre a dick about it or not. lol..
Technically, he could impound the bike.. If you make up a bullshit story and make it sound believable, are registered and insured, you'll prob just get a ticket for unlicensed operation, then show up in court with your license and they will prob drop it completely or to just a traffic violation instead of a misdemeanor. If he is a nice guy and got laid the night before, then he might just let you off with a warning and tell you to get off the road..