Repair or replace My JM Lab Micron Carats

One of my speakers has developed a bad, I mean nasty, distortion at mid+ volume in mid-low range. Nothing is visually there but you sure can hear it. Is it worth repairing(is it even possible?), or should I replace them. If replace, any recomendations are welcome. I think my budget is about $1500 or less(haven't discussed with my wife yet), the rest of my system is:
Creek4330 Int. Amp
Music Hall MMF-5 Turntable
Rotel RCD-02 CD Player
NAD C440 Tuner
Kimber cables (I forget the number but they are brown/black)
PBJ Interconnects
Dedicated Line and Cryod outlet