Smoke and No Oil

[evolutiongsx]

I got this problem starting a few days ago. As I was driving home from school, my turbo started sounding weird, like muffled, and every time i let off the boost a bunch of white smoke shot out of the exhaust. Today when i started the car, the smoke just poored out and idle and whenever I released boost. Anyone know what this could be. Well i know it has something to do with a gasket, but does it sound like it might be really expensive?

 

[Defiant]

Blown turbo oil seal. Big dollars.