An elevator load bearing assembly includes a plurality of cords within a jacket. The cords are spaced from an exterior surface on the jacket such that the spacing remains generally constant along the length of the belt. The jacket has a smooth, uninterrupted exterior surface for contacting sheaves as the belt moves in the elevator system. A method of making the inventive belt assembly is disclosed. The inventive belt assembly minimizes the possibility for generating an annoying, audible sound and vibration during elevator operation.