Its not going to get any better...
Most definately. If the seal were to go out suddenly, which sometimes happens when they are starting to go out like yours, then the engine could overheat and cost alot more than a $100 water pump. They are very easy to change on this engine if you have the right tools, remove the air intake hose, drain the radiator by removing the lower radiator hose, remove the upper hose, surge tank hose, and heater hoses, remove the belt and tensioner(if memory serves me right), the tricky part is getting the fan clutch off, you can either use an air chisel to remove the nut on the clutch where the clutch mounts to the pulley (it is threaded) as the wrong way to do it, but it works, or as the the right way, you need a tool that can hold onto the pulley while you use a wrench to unthread the clutch, then remove the water pump, clean the gasket surfaces on the engine block, and install the new pump in the reverse order (make sure to use a new thermostat, which you will have to buy separately of the pump even though it is part of the same assembly). Fill the cooling system up with new coolant that matches the old coolant's color and you're good to go.
Thank you Eric, I will go with your advice and change it out. Hunting out in the Oklahoma pan-handle would get very troubling without my water-pump.Tom
Yes have it changed or change it yourself if your able to. Self doing will save $200.00 or there bouts.
Looking for a Used Suburban in your area?
CarGurus has 19,514 nationwide Suburban listings starting at $1,800.
Search Chevrolet Suburban Questions
Chevrolet Suburban Experts