Probably clock spring even if the horn and cruise is working. Mine did that for weeks before the other items quit. Clock spring fixed it... Sadly it though it also broke wheel position feedback... Had intermittent TC warning lamp after install and now it's on steady and no cruise again (cruise wont work if TC isnt all good). I think the part I got was defective... Oh well... At least my airbag (and non-cruise related steering wheel controls) work again.
Well, the light is meant to indicate an open circuit squib in the airbag, but it usually means an open circuit in the clockspring. Usually it starts as an intermittent light as you turn the wheel, but not always.
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