Hi vylet, welcome to BC!
By "delete" do you mean killing svhost.exe in the task manager or finding the svhost.exe file and deleting it.
Killing it in the task manager should be remedied by a simple reboot. As for deleting the file itself, I don't think that's possible under normal circumstances. Windows protects critical system files from damage. Deleting one of these files will result in Windows simply replacing it immediately from its backup copy.
So, unless you did something other than what I've mentioned, or your computer is not working anymore, I'd say you're fine. Just reboot.