Alright finally got around to doing this...
I had the bolt & washers (~1.5" wide) from my old bicycle tools (makeshift headset press)
No hammering required to remove the bearings if you use both pulleys (& provided your bolt is long enough). You can use the back of one pulley as part of the press to remove the bearing out of the other.
It'd look like this.
bolt
washers
back of pulley 1
front of pulley 1
front of pulley 2
back of pulley 2
socket (for me it was a 24mm socket)
washers
nut
Thanks again for this thread cause it worked like a charm and you saved me $150 CDN
I'm wondering though, is it advisable to put some threadlock on the pulley bolt for the tensioner? I'm just paranoid that i didn't tighten it enough (cause the tensioner would compress).