I had one removed from my elbow (of all places). Yes, it did ache. A lot. It's a good idea to have it removed, they can get pretty big. Nothing like your body using some randon spot to dump fat into...LOL
That makes me feel better. Did it just bother you around the lipoma? Or did parts of your arm ache? Mine is only a size of a marble, and is causing my whole leg to flippin throb!