At highway speeds 70-80 MPH the bike (1983 GS650GD) surges pretty badly, if I accelerate then it will quit for a few seconds and start doing it again.
Also, I ran the bike up to 120-125 MPH and held it there for roughly a minute, I let off the gas and coasted back down to around 80 and had absolutly no throttle response, it acted like it was completely out of gas for about 15 seconds. Then it suddenly jumped right back up and had perfect throttle response and ran fine (other than the surging at highway speeds).
Around town the bike runs great, but it seems when I get into 5th gear cruising it begins surging.
From the previous posts I have read it indicates possibly a bad petcock, but I just wanted some expert opinions on this.
Thanks in advance for any help.

which would probably result in me not shutting it off half the time.
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