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I would not remove the air pump. It will make it even harder to pass emissions. A vehicle that will not pass emission, regardless of where you live, has a lower resale value. If I were you, I would look into getting a new catalytic converter, not figuring out how to remove the air pump.
The HD trucks(anything bigger than an F150) didn't get OBD II until the new body style with the modular motors.
Without a cat the air pump is just blowing air around, but it represents nil drag on the motor so removing it is not gaining anything except a tidier engine bay. To do this you really want to remove all the plumbing, remove the crossover tube at the back of the heads and plug the heads,(if not you'll have a hugh exhaust leak) and remove and plug any vacuum lines associated with the diverter valves. Leave the actuator solenoids in place to keep the computer happy, just cap the lines that would feed the valves. I did find a belt to fit a 5.0 without the air pump at one time, but I don't know what length it was.
The reason I want to remove it is the noise it makes. Sounds like an engine fan kicking in and out, usually occurs under load when trans downshifts, but happens other times also.
No smog or emission concerns here to worry about.
I once saw a dummy (idler) pully that replaces the smog pump so you can use the stock belt. These are commonly available at a speep shops for drag racers.
Would put one on my truck, if I didn't have to get it smogged. Went through 2 rebuilt pumps, before eventually buying a new OEM unit. The old one and all the rebuilts units sounded like a rock tumbler, before I replaced them. Since then, I've had the new OEM unit on the truck for a year now and it is still very quiet (unlike the rebuilts) After talking to a few mechanics, most said they don't have much luck with the rebuilt units.