Power steering pulley question-yes I searched

I just started my car and it started squeeling. I shut it off and grabbed the power steering pump pulley and it moves back and forth about 1/8 of and inch. Stupid question but is this normal? I have never pulled on it before so I had to ask. Has anyone else had this problem? How did you fix it? I did a search but didn't get an answer to my problem.
 
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