ClimbTheBest

So lately have been hearing this loud squeak sound. I can only hear it at idle when I pop the hood. I put some soap on the belt and it stops, then when I start driving it comes up again and the more I give it gas the louder it gets. Now for a while I thought it was the power steering pump but every time I put soap on the belt it would stop at idle. Today i found that a chunk of the pulley is missing, not sure how to describe it exactly, like the little lip that comes up to keep the belt on has been cracked and broken off about an inch or inch and a half long. Is this what might be causing the squeaking?

Thanks in advance