A belt drive monitoring system comprising a driver, a driven, the driver and driven connected by an endless member, a first magnetic member having a magnetic field attached to the driver, a second magnetic member having a magnetic field attached to the driven, a first sensor disposed to detect a changing magnetic field caused by passage of the first magnetic member, a second sensor disposed to detect a changing magnetic field caused by passage of the second magnetic member, a first transmitter configured to wirelessly transmit to a receiver a first data signal from the first sensor and a second transmitter configured to wirelessly transmit to the receiver a second data signal from the second sensor, and the receiver configured to manipulate the data signal whereby a system parameter is calculated and provided to a user.