a)Remove the hand wheel and tension washer
(Loosen set screw, and thread off).
b)Then loosen the set screws in the upper pully.
c)Make sure the pully will now slide along shaft.
d)GENTLY tap shaft toward lathe bed.
e)Make sure the pully can slide off key.
The Bearing will probably come out with the shaft, but if you can get the woodruff key out from under pully, then the bearing MAY stay in.
Once you get far enough off, then the belt should be able to be slid over shaft.
f)Reverse operations to re-install, but do not overtighten the handwheel, or let it be too loose either.
g)Line up the pulleys, and retighten pully set screws
Hopefully I did not forget anything, but I think this is right
Jerry