Intercepting then modifying USB traffic

[Turkuaz]

Hello all,
I am working on a licenced prog. It is protected by license files on a memory stick, licence is related to serial number of the memory stick. Because of this it is not working if you copy licence files to another memory stick.

I wonder if it is possible to listen USB traffic, then intercept and change SerialNo in the related USB traffic. I mean to fake serial number of a memory stick.

I am working on hardware solution but software solution would be nicer.

Any idea and help welcome.