Dreaded Waterpump Failure?
 

Here's another post to document an early E70 electric water pump failure.
2007, 61k miles.

My wife was driving on the highway last night so I don't have first hand experience but she said the car gave some sort of overheating warning then she lost power (most likely limp mode).

Anyway, I plan to either tow the car or drive it to one of my local independent shops.

Any thoughts on driving the car 10mi in 50degree weather? The issue I have is that there is no temp guage so when the car gets hot, I won't know to pull over and let it cool....

You'll know. The sound of the fan alone will let you know almost immediately. My advice would be to tow. Topping off with coolant won't do anything if pump doesn't circulate it.

I had the car towed on a flatbed to one of my indy's.

As a data point, the total cost for the repair, $1040. (pump, pump bolts, thermostat, coolant and 3 hours of labor @$128)

Mine was covered under CPO, so towed right to the dealership. I figured it would have been $1600 or so had I had to have paid, so your indy saved you a few bucks.

Update: My total was $974.91.

$527.95 - Pump
$114.58 - Thermostat
$8.58 - Pump Bolts
$23.80 - Coolant

3 hours of labor at $100. ( I was given the previous customer labor rate)

Wow! how soon will it fail again, are the new pumps a different design? Thankfully, the diesel still has a mechanical pump