I just watched the JHMotorsports 2.7-8 timing belt video.. It's great. I definately recommend it. Watch the clip JH Motorsports Inc.
It goes over taking out the waterpump.
Like ImTheDevil said the Timing belt is in the way of the waterpump. It would probably be easier to just redo everything. You may as well go grab a new timing belt while you're in there.