The Collaborative International Dictionary of English v.0.48:

Saveloy \Sav"e*loy\, n. [F. cervelas, It. cervellata, fr.
   cervello brain, L. cerebellum, dim. of cerebrum brain. See
   Cerebral.]
   A kind of dried sausage. --McElrath.
   [1913 Webster]

WordNet (r) 3.0 (2006):

saveloy
    n 1: a ready-cooked and highly seasoned pork sausage