Or you can send it in to a service, joegoods.com I know fixes this
S1byrne hey man sorry you have this problem I had the same exact issue. I actually fixed it myself. It is a problem with the mother board not the hard drive. The problem was fixed by reflowing the motherboard with a heat gun at 350 degrees C. listen by no means is the process easy but it worked and it took 9 hrs but eighty percent of units that have the yellow light get fixed by reflowing the motherboard.
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when i turn the ps3 on the ps3 light flashes yellow and green then red 3 times then it turns off....
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