I'd have to have the engine infront of me to tell if it'll work or not, but as long as you have close to 90 degrees of wrap, I wouldn't worry too much. you could come off the crank, wrap it backwards around the water pump and go up to the alt. idle pulley, around the alt, down to the idler, back to the crank.
if that doesn't look like enough wrap around the water pump, how does it look if you get a ribbed water pump pulley, and come straight up of the crank, like the big blocks do, then around and up to the alt or idle pulley?
I'd be more worried about the amount of wrap around the alternator so it doesn't squeel under high electrical loads.