I am guessing the CAN version has the same emissions equipment as the US versions?? If this is the case I see no reason why you couldnt import one. The issue would become cost, if I remember they are alot more expensive up there, especially when you compare the US dollar to the CAN dollar..
But if you are set on it, I heard a story once, about a guy going across the boarder with a trailer and buying a bike. Told the dealer it was begin bought for OFF ROAD USE ONLY (aka Racing). That way they do not license it, they just sell it to you and give you a certificate of origin. Then you take it home and go and apply for a title, it may require an inspection...
That was just a story I was told.. Not sure if it was true or if it could still even happen that easily.