Chevrolet: Cavalier problems, front wheel bearing, 1997 chevy cavalier

Question
1997 Chevy Cavalier Standard Model

I have two problems. 1.) In the last two weeks the car makes a noise when I accelerate.  It sounds like the groan an airplane makes as it begins to zoom down the runway (but not as loud).  The car seems to drive fine though.  It definetly was not there before though.
2.) My electric/power light came on today.  Is it possible they are related issues.  I had a new alternator and battery put in 4 years ago and have had no problems since.  Could it be the power generator belt? Is that expensive?  Thanks

Answer
The first thing that came to mind when you said the noise sounded like an airplane was a bad front wheel bearing, but the second part of the question made me think that it could be a bad bearing in your alternator. You could still have 2 problems. If the noise only happens when the car is moving, its probably the wheel bearing. If the noise happens when the car is NOT moving but the engine is reved up, its probably the alternator.