New Member with P1501 Fault Code Issue (Help Cleaner!)

[Diamond Dave]

I'm a relative new member to this board and have to say that I love what I've seen thus far! A wealth of information with truly superb members. I hope to contribute in kind as time goes on.

I own a 2001 X5 (3.0L) with 51,000 miles. Last weekend the following dash lights came on while crusing around town: EML, DSC Off Warning, Brake, and ABS. I promptly pulled over, shut off the car, and gave it a rest. Upon restarting the vehicle the dreaded "SES" light came on which I had the fine folks at Auto Zone look up for me:

P1501 - Vehicle speed sensor out of self test range (huh?)

I've done a search on X5World with regard to this specific code and nothing pulls up other than the "Fault Codes and Their Meaning" thread from one of the mods. I've done the requisite gas cap check and that's not the problem. Have been the sole owner of the vehicle and am quite anal when it comes to maintenance so it's not an abused SAV.

Anyone else seen such a thing or have experience with this fault code? Cleaner are you out there?

Thanks in advance!!!