If it is a '97 Malibu it is a 3100 V6...
and the waterpump is NOT at all, in any way connected to the timing chain! It is held in by 5 bolts around the perimeter and took me about 10 minutes start to finish to change... I'll make a quick step-by-step for you
1. drain the coolant
2. take off the serp. belt
3. take out the 5 bolts holding the water pump in place (8mm or 10mm, I have seen both)
4. remove water pump and gasket
5. clean the mounting surface on teh water pump housing
6. transfer water pump pulley from old water pump to the new water pump (torque the four bolts to 18lb/ft)
7. install new waterpump and gasket (it will only go on ONE way, it looks symmetric but it isn't, I also suggest a little RTV or something on teh first few threads to help prevent leaks)
8. install waterpump bolts and torque to 89lb/in (DO NOT over tighten, they are small and will SNAP EASILY)
9. put belt back on
10. refill coolant
heres is a picture of the water pump for you.
It will be a tight squeeze getting between the motor and the inner wheel well but I promise you can.