It has been my experience that getting any lube of any kind on belts, pulleys or the bearings that turn pulleys is a bad idea. I would suggest replacing the belts and while they are off, clean the inside of the pulleys with lacquer thinner to remove any residue. You can check each pulley for bearing wear at this time. If you spray lube on bearings that are permanently lubricated they will quiet for a few minutes and then start to get louder and louder until they fail eventually.