Having just replaced a water pump, I would suggest that if you don't have appropriate presses available, this is not an economic option.
I bought a new water pump complete from Bunbury Motorcycles online for around about $400, including post. This bearing set works out to about $240.00 give or take. The old ones are difficult to get out and probably just as difficult to get in.
Just my thoughts.
PS Bunbury Motorcycles have the best prices I have found in Oz, and with the exchange rate the way it is, US is not a lot cheaper any more.