How do you remove a speed sensor on 2004 Chevy Colorado?

If it is 4x4 remove axle from wheel bearing assembly and then remove the wheel bearing assembly. Make sure the tone ring (looks like a ring with teeth) is still attached to the spped sensor side of the bearing, if not, replace wheel bearing assembly with an assembly that comes with the speed sensor. Replacing a speed sensor without a tone ring is pointless because it won't work.