R.I.P. PS3

At around 8 pm today my ps3 just so happened to turn off randomly!!! It never really happened before so I didnt really know much about it. I decided to try turning it on so it suddenly started blinking red which was weird. I tried to turn off the power and wait for it to cool down then I turned it back on and nothing all of a sudden I noticed that there was a yellow light flashing for about a second and well after a little research and assumption it was the yellow light of death. It sucks that it had to happen to my poor ps3 it was one of the first ones that came out. I knew there was going to be some issue with it at one point or another. I have to give SCEA a call tomorrow to see what I can go ahead and do with it. I hope I dont have to pay much or anything. We will see.