Macker - Yes, most likely the pump can be repaired. Your timing on this question was kind of uncanny. I have just been setting up my website to sell the repair parts for the Jabsco pumps. I rebuilt my own a few months ago. I am actually a mechanical design engineer for a company that makes all types of servo motors. I have a lot of connections from my job, so I was able to track down the necessary parts. Click on the website link in my signature and let me know if you see what you need. I am still working on my website to add a few more parts. I can also help you if you have questions about taking the motor apart.
Click on the link above for Jabsco ballast pumps, green impellers, bearings, and many other ballast pump repair parts.