Yes, sounds like wheel bearings.
Many, many folks have had them go out around 50-60k.
Search the forum for discussions of whether/how to do it yourself; it's a full day job.
IMO, may as well do both since the other will go out soon if it isn't already.
My cost was US$110 parts + $175 labor (3 hrs) for both sides.
But if you do it yourself the parts should be cheaper ($80-$90 IIRC).
Good luck.
