Diagnose Compressor Noise

As of a couple weeks ago, my compressor started making a wierd noise. Any idea what this noise could be? The compressor seems to stay on, my intial thought was that it may be a result of a leak; but any insight you can provide is greatly appreciated. 

A video of the noise:

[video=youtube;82O8HyytNtg]http://www.youtube.com/watch?v=82O8HyytNtg&feature=plcp[/video]

Say goodbye to your compressor :(

Piston slap?   I don't like it when the compressor is laid on it's side.   Contact Viair and see what they say.   Did you make sure that something just didn't come loose like a bolt/nut? When compressor is running try putting a pry bar pressure on the compressor and see if noise changes or disappears.

might as well buy an extra compressor just in case.