If you have a stand-alone motor the are on the plastic flange that covers the motor's metal axle below the pulley.
Plug your motor into the wall outlet and remove he SDS from the system. If you have a pulley that has two different places to put the belt on (33 and 45). Try them both. If no noise, this probably isolates it to the SDS.
Unplug the SDS. Then plug it back in again and try the motor controlled by the SDS again. See if noise comes back.
If you have tried all these things including proper motor lubrication, then it may be time to call VPI and talk with Mike. If you have to call, make sure you have written a list of everything you have tried so it will help him quickly eliminate etiologies and treatments.
Good luck. It sucks when something goes haywire.