Depends on the condition of the pump and where you live. Northern states car, driven in the snow and rain...i can see it seizing over time.
Souther car, driven on sunny days. Should be good to go.
If you are really concerned, just leave the belt hooked up to it. Bypassing it will gain you maybe 1/4 HP. When you see how much a replacement pump costs, you'll wish you did leave it hooked up