Weird Noise/Blue Smoke from driver side engine compartment

I have a 2003 Honda Civic EX with auo transmission with 121000 miles. It has been making a very strange noise sounds like a belt. No vibration. It's running fine, no fluid leaks, no check engine light, no overheating. The noise gets better as the car warms up. The other night, I smelled a burning smell and pulled over. Blue smoke was coming from the driver side engine rjust to the left of the power steering fluid reservoir. I then noticed that my A/C had stopped working. The timing belt, all other belts and the water pump were replaced at 112000 miles. I don't know if this is related but I hit a RR Xing really hard on the way to a meeting. When I left that meeting is when I noticed this noise. It so happens I had a front end alignment scheduled for the next day and asked the mechanic to nose around and see if he could find a possible source. They said they'd need to take the front part of the engine apart.