The vehicle and bicycle collided at the roundabout on the intersection of George and Stanley streets, near the Hereford Street low-level bridge, about 11.15am.

A police spokesman said an off-duty ambulance officer, off-duty police officer and off-duty nurse were among the first witnesses at the scene and all assisted the cyclist, aged about 60, until an ambulance arrived.

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She was treated at the scene before being taken to Bathurst Base Hospital. She has now been airlifted to a Sydney hospital.

The driver of the SUV was also taken to Bathurst Base Hospital for mandatory blood and urine testing.

A metropolitan crash investigation unit is expected to arrive at the scene within the hour.

Roads around the intersection remain closed to traffic with diversions in place.