Mechanic help with my 1980 Honda XL 500?

I bought a very clean looking 1980 Honda XL 500 not long ago. On the first day i rode it everything went well. On the second day i couldnt get it started because the battery was dead dead. After looking at the battery and seeing how old it was I decided to replace it. With the new battery it fired right up and i enjoyed my afternoon and evening on the bike. After riding until 1 in the morning, and luckily only two blocks away from my house it died mid ride. I parked it and left it until next morning. I checked gas and started it up easy again, let it warm up for about 10 minutes and decided a short 4 blocks to the gas station wouldnt be bad.. it died one block away. I pushed it home. When i got home i kicked started it first try, let it sit running for 5 minutes and hopped on again. It rode 3 blocks again and died. I waited with it off for a minute and kicked it started easy and rode back home where it died and i coasted in. I think something must be wrong with the charging system, like the stater and regulator rectifier. There was a similar problem with my 2006 636 a couple years back and replacing those fixed the dying. But this time it doesnt seem that the battery is being completely drianed because of my ability to start it again within minutes. I am looking for any other ideas, suggestions or good vibes. I dont think any loose wires are causing it because the only ones i have found went to the front blinkers which arent there, but the wires are clean. I have seen things online about pulse generators or magneto flywheel being a problem but i am not sure exactly if thats what i need. HELP ME get my bike cruising again!