Are you sure it's the wheel bearing? In my 850 I swore it was the wheel bearing but ended up being a bad control arm. It could also be a torn CV boot...is there grease slung from the boot? if so, the CV Joint itself might be worn, thus when you turn. But you never mention the type of noise. If it's clicking, then CV...if it's grinding, then wheel bearing. If the sound is sort of a click, even when going straight (especially over bumps), sounds like control arm, or even ball joint. Look under the axel and see if there are any worn parts...try jacking the car and seeing how much play is in the front wheel...turn it left to right with your hands as well as up and down...see if it engages the shocks or is a loose connection otherwise.
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Current owner of a '04 V70 2.5T. Previous owner of a '94 850 Turbo Wagon