Service-Oriented Computing (SOC) enables the composition of loosely coupled services provided with varying Quality of Service (QoS) levels. Selecting a (near-)optimal set of services for a composition in terms of QoS is crucial when many functionally equivalent services are available. With the advent of Cloud Computing, both the number of such services and their distribution across the network are rising rapidly, increasing the impact of the network on the QoS of such compositions. Despite this, current approaches do not differentiate between the QoS of services themselves and the QoS of the network. Therefore, the computed latency differs substantially from the actual latency, resulting in suboptimal QoS for service compositions in the cloud. Thus, we propose a network-aware approach that handles the QoS of services and the QoS of the network independently. First, we build a network model in order to estimate the network latency between arbitrary services and potential users. Our selection algorithm then leverages this model to find compositions that will result in a low latency given an employed execution policy. In our evaluation, we show that our approach eficiently computes compositions with much lower latency than current approaches.