No.
An Innovation is nothing like an Elite machine. It looks similar, and takes the same fan, but has a completely different motor and a two belt system. It will take a type A bag, but it originally took a type B bag. Parts are no longer available AT ALL, INCLUDING EITHER BELT, so treat this one lovingly. It looks to be in good shape and will command much money on ebay, especially with the tool kit. These are rare because the plastic was very brittle and they broke left and right, not to mention the price of them new.
****WARNING****
THE HANDLE ASSEMBLY AT THE TOP NEAR THE SWITCH IS VERY BRITTLE AND WILL BREAK SO EASILY. YOU MUST NEVER NEVER NEVER NEVER CARRY IT BY THE TOP OF THE HANDLE, ALSO YOU MUST NEVER NEVER NEVER NEVER ALLOW THE UNIT TO FALL BACKWARD ON THE HANDLE AS IT WILL BREAK AND YOU WILL NEVER GET ANOTHER!!!!!
****FURTHER WARNING****
Before your curious mind wants to tear it all apart, these are a royal pain to work on, and you must mark on a diagram where each screw goes, put the wrong length screw in and you will damage the hood, or other parts. Just take lots of pictures as you dismantle it and make a diagram of the screws.