I would be worried about this on some level. Things that come to mind:
- thermostat is not operating properly
- air lock in coolant
- not enough coolant
- temp sensor not operating propertly
As we've mentioned on this board before - the coolant needs to be changed/flushed every few years anyway. It would be a good time to do a real flush top to bottom, change all the old coolant out and use a new OEM thermostat and rubber gasket. This should be done every few years anyway, and it will help eliminate some variables.
Actually if you decide to do the flush it might be worth it to just get a new temp sensor and put it in while you're in there anyway - I think they're about $30-60.
http://www.fcpgroton.com/product-exec/product_id/11898/nm/Volvo_V70_Aftermarket_Temperature_Sensor_1998_/category_id/198
http://www.fcpgroton.com/product-exec/product_id/11885/nm/Volvo_V70_Genuine_Volvo_Temperature_Sensor_1998_/category_id/198
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