grinding noise coming from front driver side tire

Hey guys...I hope you can help me. My 96' Grand Am makes a horrible noise...only when I accelerate til' 45mph. I have been told it may be my CV Axle. Sounds like a worn bearing to me, but before I invest any more money I wanted to know what you guys thought. I know it is not the trans. because when I accelerate past 55mph it stops and I can rev-up w/o any noise. Let me know what you think

sounds like a bearing you are describing, is it more of a roaring sound? Hows the brake pads look?

Does the noise go away when you hit the brakes at 45mph? and Does the steering wheel shake when you reach 45, or any higher speed?