I don't know, but I will elaborate.
one of these- http://en.wikipedia.org/wiki/Linear_motor mounted to the inner circumference of a rim. Linear drive applied to an infinite (round) track. But instead of a trolley moving on it, the trolley would be fixed to the frame and the track (rim) would move.
Like this- http://www.youtube.com/watch?v=pbNnkZx0JTo&feature=related only round.
Any science fiction or engineering types out there want to jump in? Maybe we can invent a T-Nation/tron super bike for Professor X and have Wormwood test drive it.