Found all the Volvo DTC codes
Cool reference for anyone looking to find the meaning of a code
http://www.bsr.se/man_diagnos_uk.pdf
This looks like the best OBDII tool for our Volvos as it reads all the codes and can reset them. Generic OBDII code readers can't get the Volvo specific codes (lots of them)
Looks like under $200 and I'm buying one :)
So SRS-0012 and SRS-001C is stage one and stage 2 of the driver side air bag. I had pulled my steering wheel to recenter it after installing my steering rack few weeks before the SRS light lit. From what I read, it is probably the contact reel. Off to research that now :) If anyone has directions on removal + installation, please share. Thanks.