Probably the cheapest way to go is to get an SBT housing and replacement impeller:
Model: XL800 -- SBT Jetski Engines, Parts & Accessories:
The SBT housing has a replaceable plastic wear ring, so next time all you have to do is put in a new plastic insert. Disadvantage is that is wears out more quickly than the OEM housing.
If you decide to get an OEM replacement Boats Net usually has about the lowest prices:
2001 XL800 - XA800Z Yamaha Waverunner JET UNIT 1 Diagram and Parts
Its not a hard job. On some skis you need a tool to hold the drive shaft in order to remove the impeller, but it is pretty cheap.