The Silicon Vertex Detector (SVD) of the Belle experiment is one of the main components for the investigation of time-dependent CP-asymmetries at the B-factory at KEK. The first version of this device (SVD1) was operated for 4 years starting in 1999 with excellent performance. However, its major limitations necessitated the design of a new detector (SVD2) which was installed in the summer shutdown of 2003. The improvements of the hardware and first results on the performance under real beam conditions are presented. (c) 2005 Published by Elsevier B.V.