It's probably the electrical part, it's an easy replacement, and quite
reasonable.
http://www.volvospeed.com/Repair/ignit_switch.htm
Note that this link is for the 850, your V70 has some slight detail
differences.
--
Mike F.
Thornhill (near Toronto), Ont.
Replace tt with t (twice!) and remove parentheses to email me directly.
(But I check the newsgroup more often than this email address.)