I just picked mine up from service for this issue (at least it sounded the same as the descriptions here). They changed the serpentine (sp?) belt and cleaned the pullies. Hopefully, that will fix it. I will not know until the next time I start it cold.
There is a TSB for the Colorado for coolant getting on the belt and causing some noise. I found it on a Colorado site...same engine; possibly same noise/cause? We will see.
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