A set of bearings can be had for as little as ten bucks (Chinese,) to over fifty bucks. What is this motor on? Where are you located? Possibly a member here could show you how to swap bearings. It's not rocket science.Why not replace the bearings, or get a shop to do it?
This motor is mounted beneath the headstock on a Powermatic 90 lathe. It requires you to stand on your head to see it much less work on it. I have replaced bearings on other motors . This is something else. Could be the Reeves drive. I will take off the belt and see if I still hear it.frame specification would be needed to make sure it fits in your tool / mounting holes line up etc.