Edit:  Got the bolt out.  See post 7.
2003 X5 4.4.   Broken water pump bolt, one of the long ones.
 
I recently acquired this vehicle and don't know much about the history.  Went to remove the water pump and discovered one of the long bolts was broken.  I just pulled it out.  The other long bolt was not even tight.  The four shorter bolts were all secure holding the pump in place.  The water pump and thermostat are newish (I would guess under 1-yr old).  The prior owner had replaced them recently.  I was removing it as the seal between the thermostat and pump was leaking badly (strange for a new pump).
What are my options?  My research on this forum suggests the only real solution is the removal of the lower timing chain cover.  That is beyond my ability.  The vehicle is not worth the cost of paying a shop to do it.
What if I just reinstall a new water pump without the bolt?  The hole is plugged with the pice that is still screwed in there.  I may get lucky and the pump seals to the block without the bolt.  If it leaks, I am no worse off other than the time I have spent.  
Any other options without removing the timing chain covers?  I don't think a reverse drill bit or ez-out could ever reach in that far.  I am leaning towards just reinstalling the pump and leaving this bolt out.  What's the possible harm?