The speedy sleeves I've used were for seal journals only.
My impression of even much thicker wall sleeves is that even if pressed on they eventually try to walk out of the confined area.
I have made steel sleeves that pressed onto bearing journals that I turned undersize first and after pressing the sleeve on drill radially and pin the sleeve in place with any small steel pin, then finish turn the OD, but that was on solid shaft journals, you will definitely weaken the hub doing that on this.
It doesn't look like a good candidate for a repair to me, but if you weld it and turn it to a good press fit that might tolerate some of the "bubbling" Tony mentioned (Unless Tony meant weld porosity), lathes will rise up over harder areas a few tenths and turn to size in softer areas, depending on the variably localized heat caused by the welding. But bearings like a high percentage of contact area and a narrow range of interferance.
The way to eliminate that "bubbling" might be to grind it to finish size if you have a tool post grinder after turning a little bit oversize.
I hate those things (Tool post grinders) because they usually shorten the life of lathes they are used on.
IMO any way you repair it it will not be as strong as it was, unfortunately, and may not keep bearings as long either.