I live in Florida and I have a large live oak tree. It has two large limbs that form a V shape a couple of feet down you can see there use to be a large tree limb that had been cut off. A couple of years ago I noticed Woodpeckers pecking on it and squirels digging wood chips until now there is a hole about the size of a canalope where the tree limp had been cut even with the rest of the tree. Now I see the squirels siting in the hole eating acorns and when it rains the water pours from the V shape down the side of the tree into the hole a couple of feet down. The tree looks healthy,I hope I'm not too late in repairing this hole. What do I need to do ?

Since it is an Oak you be able to get help from a local aborist:confused:
I know that in CA. we can not do much to an Oak without permission.