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
Are you sure it's the speakers fault and nothing else in the system? I would call JM Lab and see what/if is the $ and are replacement drivers available. One thing for sure I personally would replace the Kimber PR spk. wire to the Kimber 4VS/8VS or perhaps to some Cardas. Having owned most of the equipment on your list, I'm thinking your system is revealing and on the neutral/ bright side. The room is the most important factor which can make or break a system, though. There are so many good small spks. out there to choose from! If you want a warm sounding spk. the Spendor S 3/5 is excellent.( Spendor S3/1P also worth an audition.) If you want to try an excellent small spk. for a very reasonable cost($300 new retail) I recommend an audition of the Energy "Connoisseur" C-1. Superb loudspeaker. Good Luck!
Seems like the speaker since I simply switched them side to side and the problem went with the speaker.

Thanks for the tips Kotta.
Kotta, a couple of more things. You're right about the way the systems sounds. Also, why do you recomend the spk wire change? And what effect do you expect the change will make? Thanks, Jim.
I've listened to the various Kimber Kable speakers wires over many years in alot of different systems. I'm far from an expert, but IMHO the 4VS is the best value for the $. It easy outperforms the 4PR for only a faction more cost. I prefer it over the 4TC, but this is very system dependent. If your equipment is mid-fi and lacks the refinement that very expensive equipment offers, I would go w/the 4 or 8VS. If you really want something that would add refinement and soften the electronics, I would go w/ Cardas spk. wire.
Next, I would change your interconnects which are very revealing. Van den Hul D-102's are great sounding (warm/good bass) and you can order them for 59pounds from a company in England. Excellent value. (Audioquest "Quartz" interconnects are a good value if you can find them used.) This should soften the sound and add warmth w/greater bass. Bill