What size Jonny, how much water, how much head, how much draw, what kind of pump...lots of ?'s to be answered.
Unless you only need small amounts of water, I'd think that saw powerehead would be a poor choice. Cooling could be a problem...chainsaws were just not meant to be run at or near full output for hours on end. Fuel economy would be abysmal...compare lbs fuel per hp/hr to a small 4 stroke. You'd have to rig up some remote tank too, because I'm sure you don't want to walk down to the pond every 15 munites to gas up.
That said, I'm sure it wouldnt be such a big problem to bore a hole in an aluminum pulley about the minor diameter of a rim drive sprocket, carefully lay out and drill some small holes corresponding to each drive tang and saw or file out the waste. Lay the pulley on the drum (should center on the minor dia.) and carefully pour some resin filler (epoxy or polyester) in the spaces around the drive tangs.
If you decide that you don't want to continue with the idea, you can heat the drum up to about 400 degrees which will degrade the epoxy or poly resin to get your drum back. The aluminum pulley will be a loss.
Good luck!