Has anyone's belt housing/lower unit started leaking?

Took the boat and ran it for the first time since the season ended, when I trailered it I noticed a steady stream of water coming off the motor (more than usual) so i felt around a bit to try and find the source. I found water constantly steaming out the side of where the belt housing cap meets the body of the housing, where the four Allen heads are. I looked more and found a seal pealing off. All Allen heads are snug, has anyone experienced this?

I'm assuming it's just a blown seal and just needs to be replaced. Has anyone replaced this before and what all did you need to replace this issue other than common sense and the parts?

Thanks in advance guys.

There is a drain plug in the bottom of the LU. Have you drained it? Water standing in there is not good. Its probably a. Bad spaghetti seal which goes down in a groove all the way around the LU. It also could be the RTV around the bottom section of the LU needs to be replaced. This helps to keep the water out. Nothing hard about it really.
https://www.youtube.com/watch?v=_jPDEVXcDvY

You'll find this link helpful, they don't recommend it but I always put a light coat of RTV around the clutch cover also just to ensure it stays dry in there. A couple of whacks with a rubber mallet will get it back off.

Yup what JD145 said, it sounds like the spaghetti seal came off, or theres a leak in the RTV. You will need to loosen belt, then pull outdrive off. Replace gasket or make sure its good, then reseal with silicone and put drive back on. What I do when placing the outdrive back on, Ill fill the belt housing with hose water (clutch cover not on) then check for any leaks where the 2 pieces meet. If all good, drain housing, and run it like you stole it leak free.

Honestly the gasket isnt "technically" needed. I like having it for sure, but cast aluminum and silicone usually will make a water tight seal to begin with. Try calling BPS for the gasket if its not on their site. They'll hook you up. First pull the drive off and look. More then likely part of the gasket rolled out of the channel that its meant to sit in.

I think I've figured out the problem, before taking the whole out drive and all off I drained the LU and made sure all of the bolts/Allen heads going directly into the frame were all snug. I ran it for a while Sunday until my throttle cable broke. I didn't see any significant amount of water coming from the motor, but didn't have enough time to take that drain plug out. I'll check today to be sure.

Thanks y'all for the help so far!

You are referring to the small seal on the outdrive, that runs the whole length. If so I have some I'll give ya, pm if needed