2005 XC90 2.5T, only one key works

[cn90]

Hi guys,

Hope some gurus can help me.

2005 XC90 2.5T with 90K miles. We are the 3rd owner.

This morning car would not start with main key (the key with the FOB).
Tried with spare key (the key without FOB), it started right up, no issues.

I assume the main key is kaput, is there a way to fix it?
Or I have to mortgage the house to get a new key from dealer lol...(I know a new key is expensive from dealer).

[cn90]

Update...

Key was bad (bad transponder).
New key at dealer ($70 for the key, $140 for license and programming fees etc.) = Total $210.

Total ripoff by Volvo Corporate (can't blame the dealer b/c this is Volvo Corporate setup).
In contrast, a similar BMW key (with transponder) is only $45, no programming needed by BMW dealer.

[Ou2mame]

You can take the transponder out of your valet key and put it into an eBay fob shell for under 10 bucks. You can even use your valet key blade in the fob