Idler Pulley / A/C Compressor

I have a 2002 GMC Envoy 4WD. On Friday, I was driving and it started to smell like burning rubber. I didn't think it was me and all of my guages remained fine. I got home (5 miles later) and the battery light came on, the air conditioner stopped blowing cold air and the power steering went out. The serpentine belt had ripped in half. My husband replaced it, but it is still making a strange sound and the A/C still does not work. I took it into the dealer and since I am now out of warranty, I had them call me before performing the work. They said the Idler Pulley is bad and the air compressor has gone bad and it will cost $1300. I called my husband and he can replace the idler pulley. I find it difficult to believe that the compressor would go bad because of the belt coming off. Is this really possible or is there another explanation. I am 5 months pregnant and spend most of the day in the car. I can not go without air conditioning. Any ideas?

Thanks!!

Jamie Englert