Hi, my son's 1996 Z28 had recently developed an annoying intermittent squeak/chip noise when engine warmed to operating temp. At first we suspected a bad tension pulley bearing or accessory belt so we dealt with that. Upon reheating the engine, that strange noise was still there but now we realized that the noise was indeed coming from the exhaust system. We jacked up the car, checked all hangers and lubed rubber mounts, tightened flange bolts and checked shields and entire system for body contact, all good. After system cooled, I began hitting system upward with the palm of my hand starting from the rear until I got to the R.H. catalytic converter. As I hit on it upwards it replicated the sound at the flex joint about a foot down from the manifold on the factory set up. I could see slight movement between the base and flex pipe. Has anyone else had this issue?
Can this flex joint be repaired or do I need to get a replacement catalytic convertor such as Walker 50540? The car has 150,000 kms. on it, could the convertor have begun to plug causing back pressure at this joint or is this seperation a common problem ?

Any info would be appreciated