Dead Car, any ideas?

[chainreaction31]

Recently, my 2001 Boxster S decided to breakdown. It issued a large cloud of smoke, I would say it was white, though I can't really be sure, I was on the highway and was more concerned with stopping the car after I realized that it had no power whatsoever. There is absolutely no response to turning the key in the ignition. We had a friend of ours who has worked on several 911's for another friend of ours check it out and all he could say was that the engine was no good. I'm not really wanting to buy a used engine just for this to happen again, but new engines are too expensive. I was wondering if anyone knows of some options and maybe some numbers to throw around. If I could, I'd like to know about having this one rebuilt if that's possible. There was absolutely no fluid leaking from the the underside of the car if that helps anyone out. I love this car and don't want to get rid of it even after this so any help would be appreciated.

Edit: Sorry, I meant to post this in a different section. If it needs to be moved that's ok.