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Yes, as a matter of fact I am working my way through the very same problem on our '04 V70 (see post P2135 ? below).
Start with reading the Diagnostic Trouble Codes (DTC). Any cheap reader will get you those codes. NAPA has them on sale for $50, but I'm sure there are other options.
If you get P2135 or P0420 and the car has the original throttle body, remove the Electronic Throttle Module (ETM) and clean the electrical contacts, the throttle plate and throat. You will need a new gasket to go with that. NAPA won't stock one but they can get it. The same is probably true for your favorite local parts house.
Hopefully that is the problem.
While you have the cover off the ETM have a look at the gears that operate the thing. If they are missing one or more teeth, you need a new throttle body. I don't think that XeMODeX is making them for the '04s any more so your choice is new or remanufactured. Figure on ~$500 for new, $350 for rebuilt.
Needless to say that wasn't the problem on ours...
Greg
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