don’t do it! This is a great way to not only hurt yourself but damage the saw/parts. Yes, there will be individuals that will say something like “use two drill bits and a piece of wood to leverage the drill bits against themselves thus removing the clutch” …. There are other options as well, do a Google search on 2-Pin clutch tools.
As you can see in the comments, I posted a link to a cheap 2- Pin tool that can be purchased on Amazon if you like verses the $25 tool also mentioned in this discussion thread. The correct tool for removing this particular clutch is the 2-pin clutch removal tool (see link of a House of Homelite discussion below). In the years after this date they went to a three-shoe clutch design which will fit this saw (remember this for my later comments about buying a replacement clutch). This type of clutch (i.e., “S” shape”) which is found on the Homelite XL series (e.g., XL, XL2, Super 2, VI Super 2, etc.) of saws that were manufactured prior to around 1989/90 had this type/style of clutch. This is not the proper way to remove any clutch.
While I commend your initiative and “old yankee” way of thinking (i.e., use the tools I have).