(1991 FJ80 @235k miles) This exact same thing happened to me about a week ago and I'm pretty sure it was the pulley connected to the water pump. After spending the day putting on new brake pads I was driving around testing them out and all of the sudden this loud intermittent popping sound started coming from the front end of the engine compartment. It wasnt metallic and constant, it was occasional. At first I thought something might have gotten stuck in the fan blade, but I wanted to be sure so I immediately pulled over and got a tow. When I got it home I noticed the pulley was really wobbling with the motor on. But when the pulley would find its "center" and not wobble the noise would go away. Then it would go off track again and the loud popping would begin. So I pulled off the belts and saw that I could easily wobble the pulley by hand. No bueno. So after some research I concluded that it would be best to just suck it up, replace the pump and do some PM while I had the front end pulled apart. I attached some photos so you can see the condition of the pulley.....I'm still waiting on parts to come in the mail.
Some lessons learned.
Disclaimer: My truck has a lift so its pretty easy to get underneath and work from the bottom up, also, I have NWTI bumper with a flat "step" so its convenient to stand on that and get deep inside the engine bay. Your rig will be different so you have to find what works for you.
1. Remove the battery and tray, it's worth it for the extra space
2. The bottom left (Passenger Side) Water Pump hose can be easily removed by coming underneath the truck, there is a bolted clamp that secures the hose to the engine compartment that may be difficult to see from the top down, once that is removed the hose should budge. You do not need to remove the Power steering pump or AC bracket.
3. There are 4 studs that secure the water pump to the engine. You will need to remove the bottom 2 on the left side (passenger side) of the water pump before the water pump can be easily detached. You don not need to remove the small guide pulley. Some have referred to the "double nut" method to remove these studs, however, because of the tight spacing I found it easier to just purchase a set of stud extractors (not the conical shaped one, its too big)
4. Purchase an extra long double ended 12mm / 14mm flex head ratchet and a breaker bar
5. You will need to drain the radiator. There is a petcock on my bottom right (Drivers side) of the radiator. The petcock did not have a nipple to attach a hose. I re purposed the hose from my coolant overflow reservoir to drain into a 5gal gerry can. Still made a mess, had to basically hold the hose against the petcock for 15minutes to drain. Arm was very tired. Even after this coolant will pour all over the ground once you detach the water pump.
Good luck and hope this helps