You can easily do so by purchasing a shorter serpentine belt and installing it in such a way as to bypass the pulley for the pump. I did so on my M103 due to noisy clutch which made the car sound like a real beater. $400 for a new pump was not cost-effective for me, especially since I know the pump only runs for a few seconds after startup when the engine is cold. In my case, I removed the pump, but I'm not sure if I did that because I had to, or if I did it to save weight. In any event, I reinstall the pump once a year prior to getting inspected, then promptly remove it afterward. Make sure you cap the vacuum line(s) and the input to the exhaust. A plastic milk jug top screws right onto the rubber elbow, and I just wrap a plastic zip tie (cable tie) around it to make sure it doesn't warp from the exhaust heat and fall off. I haven't ever had a problem with this.

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08 W251 R350
97 W210 E320
91 W124 300E
86 W126 560SEL
85 W126 380SE Silver
85 W126 380SE Cranberry
79 W123 250
78 W123 280E
75 W114 280