Finished basement and water pipes on outer wall

Hey Guys,

I'm studding up my basement renovation and I have a question.
My water main enters the block foundation and then runs up against an outside wall to the joists and then travels into the room...

The basement walls are finsihed with 1" air space, 2x4 walls, batt insulation (probably roxul) with no vapor barrier, sheetrock.

Whats the best way to run the pipe? Up through the 2x4 with drilled hole in the top plate and insulation between the pipe and the air gap?
Can I keep the pipe behind the wall and behind the insulation?

The interior space will be heated, and I am worried if the pipe is in "cold space" that it may freeze...

Thoughts?

 

Where in Mass??? The ocean end should not be a problem, the other end could be different. I prefer XPS insulation, insulation and vapor barrier in one package. If you must use batts, Roxul would be my choice. I would like to see the pipe inside the heated part of the room, even if only slightly.

 

Just North of Boston... I was thinking about splitting the batts in half, with 1/2 in front of the pipe, and the other half behind, towards the cold side...