The air pump should stop water entering the pipe, and it should only enter the pipe when the pump is off and will only rise up to water level, to be forced out again when the pump is on.
Although on some occasions water could back flow over the highest point and syphon out, so use a check valve, they cost around a single £/$ each, so best be safe.
You probably won't get anywhere near the effect of "porous" tube which is around £5/foot.
Still worth giving it a try though if you have some spare airline to play with.