You may have to have the airbag system scanned to see what the problem is. Maybe a bad seatbelt tensioner/ or even an unplugged air bag or sensor. However, the air bag light being on could cause the air bag system to be shut off and that's not safe.I did some digging and found this..it may work. But I still HIGHLY recommend having someone look at it.
Here's the process to reset the air bag light (copied from somewhere else on the forum)...
If you have the airbag light, it will show steady for a few seconds (the manual says 7 secs) after you turn the key from off to on (but not start) and then start to flash. Here is how to reset it:
1. Turn the key from off to on.
2. Watch the airbag light closely. It will stay on for a few secs. and then as soon as it blinks off (the start of the flashing), turn the key off instantly.
3. Count to 5 (1 Mississippi, 2 Mississippi . . . .)
4. Repeat steps 1-3 two more times until you have done the cycle three times.
5. Now turn the key on and watch the light. It will start blinking in a different, slower manner. This is diagnostic mode. You can watch this for a little while, no hurry.
6. Now turn the key off again, Count to 5 like in step 3 again, and turn back on. If the procedure worked, the airbag light will not be flashing.
If it does not work the first time, just repeat the steps again.
Or is it this
http://forums.g35club.org/zerothread?id=410257