The noise is probably the fan bearing, which is on it's own support, divorced from the water pump. I can't remember right offhand how much trouble it is to get just that support off, but it's part of the timing belt job.

Go buy a $15 mechanic's stethoscope to track down the noise for sure, or use a piece of vac hose or a long wooden dowel, but the steth is the best by far.

Not responsible for advice not taken...