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I did this on my 89 XJS but modified the technique slightly for my current restoration project, a 1974 XJ12 and thought I'd share...
With the air pump removed there isn't a way to tension the A/C compressor. The Bando belt 3430 will fit over the pulleys and will start with decent tension but i'm not sure how long that will last in running (I only put about 3000 miles on my XJS that way). So, I elongated the A/C compressor bracket holes so that I got another 1/4-3/8" upward travel and upon install used my engine hoist to tension pull the compressor up. I also used a grinding disc, very lightly, on the faces of the bracket and compressor where they meet so there would be some friction between the faces.