解$:$设半圆$S_{1}$的半径为$r_{1},$半圆$S_{2}$的半径为$r_{2}$
∵$S_{1}+S_{2}=\frac {17}{8}π$
∴$\frac {1}{2}π×r_{1}²+\frac {1}{2}πr_{2}²=\frac {17}{8}π$
∴$r_{1}²+r_{2}²=\frac {17}{4}$
∵$AC+CB=5$
∴$r_{1}+r_{2}=\frac {5}{2}$
∴$(r_{1}+r_{2})²=r_{1}²+r_{2}²+2r_{1}r_{2}=\frac {25}{4}$
∴$r_{1}r_{2}=1$
∴$S_{△ACB}=\frac {1}{2}×(2r_{1})×(2r_{2})=2r_{1}r_{2}=2$