What engine is in it? Do you absolutely need to have AC? Mine is doing the same thing in my 95 Chevy Beretta with the 3.1L V6. It's a VERY common problem on GM vehicles. What you can do is either get the compressor replaced if you need AC, or if you can go without AC check out these:
Dorman AC eliminator pulleys. I'm getting one for mine. Not bad considering itll use the stock belt and such.
Find your engine size and there you go.
HOWEVER, if you do continue to drive on it the way it is now, you run a serious risk of the belt not powering the water pump, alternator, Power steering, etc.