There are a number of viruses/trojans/worms trying to masquerade as
"SVCHOST.EXE" ans they usually go by names such as "scvhost.exe" or
"svhost.exe".
In this case, "SVHOST.EXE" is the W32.Mydoom.I@mm worm and here is a
transcription of what it is and does:
"This virus is distributed via the Internet through e-mail and comes in the
form of an e-mail message, in the hopes that you open its hostile attachment.
The worm has its own SMTP engine which means it gathers E-mails from your
local computer and re-distributes itself. In worst cases this worm can allow
attackers to access your computer, stealing passwords and personal data. This
process is a security risk and should be removed from your system."
You should install and run an updated antivirus solution ASAP to get rid of
this menace and others like it. Deleting the file alone may not be enough as
is has other means to ensure it's survival.
hope this helps