2005 Buick Rendezvous Harmonic balancer out of alignment

Recently the serpentine belt started squealing. So when I looked at it I found that it had split and was missing 2 of the 5 ribs and was now thinner than when I replaced it 2 years ago. As I investigated the cause I found that the harmonic balancer seems to be out of alignment and it is sticking out of the engine further than I think it should. I don't know if this is possible but it just doesn't seem like its in the right place anymore. So my questions are: Is it possible for the balancer to slide out like that? Is it indicative of bigger problems? How do I access the balancer? It's buried pretty deep in the engine and the only way I can see getting in there to replace/repair is if the engine is pulled, is this really the only way?