OK, there's no need to remove water pump at all, thats a whole different thing. No need to remove skid plate either for changing tensioner, though I think some people might, and I don't know why that is.
Now, as to whether you can get away with swapping pulley which only takes a few minutes, maybe. Why is it squealing, due to a bad bearing in the pulley, or due to lack of tension from the tensioner? I'm betting on lack of tension, as a bad bearing would just make a grinding noise until it grinds to a halt, then it'll squeal like hell until it just snaps.
Anyways, I'd pop the belt off and spin the pulleys and see how they feel. Also I think I you can look at index marks on the tensioner to see if its setting tension properly. Can't remember if its obvious, or if you gotta read repair manual.
Now if you're lucky, and it is just a bearing, you could change the pulley from your new tensioner onto the old one, and be done in like 10 minutes. I think it may be a reverse thread bolt. But, there's the potential that you have an early style tensioner and the late style tensioner you get won't have a pulley that fits on your old tensioner. I'll post a pic later. I don't know when they changed tensioners, but maybe since you have an '06 its already got the new style.
Anyways, if you do have to change the tensioner, its kind of a bear, as you have to remove a bunch of crap ont he front of engine and unbolt power steering pump and alternator, and let them hang in place. It may take a few hours. I did it all by reaching in from the top. Some people may prefer to reach from bottom, and there's no reason to mess with water pump, thats timing belt related.