I have a 2007 530i and got a Steering Lock! warning message (i.e. RED warning indicator showing a steering wheel and padlock in the window where it normally displays the time and temperature). The steering wheel moves freely -- no problem. So I guess this must have just been a glitch. Any other ideas/experiences? Is there a way to clear this warning. Simply disconnecting the battery does not clear it. I also used an OBD-II scanner and did not find codes.

 

I had that a few months ago. On mine, it was an electric anti-theft "deadbolt" in the steering column that locks and unlocks the steering wheel. It's the "bzppp" you hear when you insert or remove the key from the ignition (non-comfort access). I got that error message for a week or two until I could get it in the shop. Apparently there's the possibility of it not unlocking when you go to start the car. It was replaced under the extended warranty, so I can't tell you how expensive it was. Good luck!