Quick question for SC2 Hori users

Ok, basically the problem I have is the cable on my stick is beginning to fray...

I've had my stick for around 2/3 years now and never had any real troubles with it, just recently tho, I noticed that the part where the cable attaches to the stick body has become stressed and now the rubber/plastic(?) cable coating is beginning to split and expose some of the wires inside.

Does anyone know the best way to remedy this? Should I try and replace the cable or just try and seal up the split in the cable with something?

Any help would be appreciated cheers.

 

Thanks for the reply Myke, sounds good to me.