Smoke Coming From under the hood?

Help Help Help.

Okay so as I pulled into the parking lot at work today I started to smell a burrning metal odor coming out of the vents. I pulled quickly into a spot an noticed smoke comming from under the hood. After popping the hood I noticed the somke was comming from behind my main pulley. I had a friend come out and trun her over while I looked to see what it was. After being turned over there was a squeeking sound followed by the car stalling, and another slight smell of metal on metal. I think it may be my water pump, but I am unsure dose anyone have any ideas on what it may be. Please someone HELP.

Thanks
Chris