04 cranks once but won't fire
 

Bike has been sitting for a couple years. I changed the fuel pressure regulator 2 years ago but have only added about 700 miles on it since. I stored it for the last 11 or 12 months with a full tank of gas and stabilizer in the tank. Yesterday I drained the tank and refilled with fresh gas. I can hear the fuel pump priming but it will only crank one time and then nothing happens. Battery is 2 years old, I also recharged it yesterday.

Cranks once, dies, won't continue cranking until I reflick the ignition switch. But I think doing that over and over again with a 1 time crank is a bad idea.

Any ideas?