Fan belt has come off

2005 VVT.
Started it up on the drive to move it.
Bit of squealing, didn't think much of it as it was a damp morning and has not been driven for a week.
Charge light came on. Smell of burning rubber when bonnet lifted.
Moved it back onto the drive and the fan belt popped off completely.
Also notice the power steering belt is one 'v' off it's pulley.

From searching most likely crank pulley I assume?


 

Sounds like it.  Rust causes the metal/rubber sandwich to delaminate.  Be very careful fitting the new one if you DIY, as it's possible to damage the key or keyway.

Cheers.
I do plan on doing it myself.

Would you care to elaborate on the keyway issue?
What should I not be doing?

The same happened to me a while ago, both belts came off outside the house. The pulley is straight forward to do but mine was very tight, I had to take radiator out to get access, but that is stright forward.

I tried locking the engine in gear 4WD-L but there was still too much movement. The pulley has 2 M8 holes drilled either side of the crank nut, I made a jig and used two M8 bolts then a long piece of metal to lock the engine in place.

It still took a big breaker bar (3 foot long) to get the nut moving. I am also not sure what the issue with the key is?

My first pulley arrived with slight damage, so had to put it on and get another one and had to do the job twice.

Robin

Sorry but it sounds like you took the crank pulley off, why? 
Both belts can be changed without doing that? 

Pheaton
Crank pully failure is quite common on the M series engine 
These have a bonded rubber that deteriorate allowing the pully to wobble 
This can make belts jump off