*grunch*
To me this is a raise or fold situation. A raise may gain you control of the hand, if they are inclined to check to you on the turn. Plus, its not fun to fold 10BB to one bet.

That being said, I'd still fold.
The fact that the SB reraised you preflop and the CO called 2 makes me think there is an Ace out there, or at least a larger pocket pair. If by chance they both missed, they still may have the outs on overcards or FD. Those nasty reverse implied odds or something.

I fold and move on to the next hand.