Help, Advice and DIY Tutorials on Volvo's P80 platform cars -- Volvo's 1990s "bread and butter" cars -- powered by the ubiquitous and durable Volvo inline 5-cylinder engine.
Not sure if yours did or not....but from about '96 or '97 they all have. If you have them, they are in the window sides, within the front seats themselves. In an accident the seams tear and air bags come of of the seats, protecting you from an impact from that side of the car.
Side air bags (torso only) were introduced in the 1995 model year cars. It was standard on all turbo models and a $500 option on the NA models. It was standard on all 850s by 1996.