Does indeed sound like a wheel bearing. Try turning around on full lock, both ways, and see if it's worse on one side.
I'm in the middle of doing the Pulsar's near side front wheel bearing. It's all ready to go back together now, but when I was driving it, it was clicking/clunking with each rotation of the wheel, but mine went away at higher speeds. When I got the hub off and had a look, the bearing was shot to pieces

The wheel could be moved about an inch either way when it was jacked off the ground.

Check that too. Jack it up and see if there's any excessive movement.
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