Head Gasket

What is your question?

MY head gasket for my Jeep Cherokee Laredo, 6 inline cyll. engine blew on the water intake side as I was driving. Engine started rattling and shaking, power steering went out, acceleration ceased, engine cut off and smoke started coming out everywhere. When I pulled over, oil was sputtering out of my dipstick area and the bottom of my engine block. A friend told me my gasket blew and water got in my engine and oil can, causing oil to run everwhere except the lower half of the engine, where the water is now. The bearings started to corrode with the water and became oval-shaped instead of circular, and when the shaft spun it caused knocking and shaking. Is this accurate-sounding? If so, what should I do, and how much would it cost me??? Thanks in advance!