You can also change the default setting of 'Re-prompt for restart with scheduled installations' to remind you once a day, or so if you can still stand these pop-ups.
So here is how you can turn off the restart reminder of Windows Update: If there ever is an important security message, the user will just click away without really reading it because he is trained to do so. In this way these pop-ups might even decrease security. People get used to them, and click on them automatically. All these pop up windows warning about security issues are more or less useless. In my view this feature doesn't bring in extra security.
I also like it if Windows rebooted automatically during my lunch break while several virtual machines are running. Usually, this restart now/restart later pop up appears when I am doing something important or when I have some remote connections open. The Windows Automatic Updates feature is great, however those nagging reboot reminders can drive you crazy.