Before you order up that ignition cylinder, I'd recommend two things first. There is a bunch of interaction between the shift lock override and the ignition switch/cylinder assembly. They are connected with a cable. Be sure that the shift lock override button is absolutely in its "up" position. Tends to get sticky with coffee, crumbs, etc. Also be sure that the button inside the shifter itself fully returns. Secondly, it is very simple to remove the electrical portion of the ignition switch once the plastic covers are taken off from behind the steering wheel. This makes diagnosis straightforward, as you can see exactly what is happening.

Ouch! The lock is installed with break off screws, the screw head is design to break off after Xlbs of torque is applied. They must be drilled out, and it is hardened metal so the drilling takes a long time. A battery operated drill will not do it.

The lock must be ordered by the dealer, who then gets it from the factory. So there is a lead lime. The security code must be reprogrammed to accept the new keys, more money in the dealer pocket :)

DIY is difficult and you are only saving the labor cost. So call your dealer and ask the dollar hungry service techs how much it will cost and the hours of labor that covers. It will take you at least 45 minutes of drilling to get one bolt out, and there are 2. Install is fairly easy with new bolts.

You could look around for a nice S60, 2003+

Klaus
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Proud owner of a 1967 220S