If the fluid level has dropped significantly, the problem will be in the pump - the pulley is only an extension to the pump shaft.
Your next problem after topping up the PS resevoir is find in the fluid leak - it could be external (you will see the leak) or it could be in the steering rack (you won't see the leak).
If the pump has run dry, it will probably require replacement.....
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2001 Boxster S (triple black). Sleeping easier with LN Engineering/Flat 6 IMS upgrade, low temp thermostat & underspeed pulley.
2001 MV Agusta F4.
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