Yes, 2 belts. A standard V-belt is only good for 2 or 3 shafts (not counting any idlers). Since you will have 4 shafts (crank, water pump, alternator, power steering) you will need 2 V-belts to drive everything. The actual layout can vary. Alternators may get spaced differently. Thus my recommendation to get a complete package from a single donor source. In general Ford is real bad about making unique accessory drive packages for each combination of accessories.