Blinking Air Bag Light

My 94 GL wagon has a similar flashing light. 5 flashes, 4-5 times. Mechanic said it related to the steering wheel problem (sounds like a piece of paper is in the wheel area, you can hear it when turning). No way the bag will inflate, but it might need replacing eventually was his theory. It seems to come on every 3k miles, like a good idiot light I tend to ignore it.