Post number 6 inside bajaunderground's link talks a little bit about where the drive shaft housing rests up against the U-joint bellows sealing out the water.What seal the the two halves to keep water from the gimbal bearing?
Being a Cobra/SX drive model, the product number tends to work better than using the serial number when looking things up under Volvo for better identification. Your drive is showing the drive to be an SX-M with a gear ratio of SX-M 1.60. < While that link will basically show only the upper and lower drive unit parts, Here's your complete list of parts such as the bell housing parts, etc, etc. once you click on Transmissions, http://www.volvopentastore.com/Marin...view_id.765160This is the info for my out-drive.
Volve Penta SX Cobra
Prod# 3868883
Ser# T0824512