My S70 just had the same thing. ABS control module failure. The cost of the module for parts and labor was about $800 at the dealer. There is a company selling rebuild modules for around $300 with self-install instructions. might be worth checking out if cost is a factor. From what I was told, you will still have normal braking, but ABS won't work. I don't like taking chances with brakes so I had the work done.