You have an issue with your Passlock-II system and you could be stranded if it fails. The Passlock II system, the resistor is built into the ignition switch instead of the key. This way, any key that will turn the ignition will start the car (because turning to the on position lines up the resistor in the switch) but the car still cannot be hot-wired. If one of the wires sending the resistance reading to the computer is pinched, severed or disconnected... or if the resistor in the ignition switch is worn, the computer cannot read the correct resistance and disable the starter and fuel injectors for 3-5 minutes. The resistor may just be dirty... buy "brake and electric motor cleaner" from NAPA and spray it in the keyhole. If this doesn't work check the two small wires going to the switch in the steering column or you may need a new ignition switch. If the ignition switch is replaced, the cars computer will have to be set to the new resistance.
Here is the relearn procedure, just in case it needs to be reset:
1. Turn ON the igniton, with the engine OFF.
2. Attempt to start the engine, then release the key to ON (vehicle will not start).
3. Observe the SECURITY telltale, it will be flashing. After approximately 10 minutes the telltale will turn OFF.
4. Turn OFF the ignition, and wait 5 seconds.
5. Repeat steps 1 through 4 two more times for a total of 3 cycles/30 minutes. The vehicle is now ready to relearn the PASSLOCK Sensor Data Code and/or passwords, on the next ignition switch transition from OFF to CRANK.
IMPORTANT: The vehicle learns the PASSLOCK Sensor Data Code and/or password on the next ignition switch transition from OFF to CRANK. You MUST turn the ignition OFF before attempting to start the vehicle.
6. Start the engine. The vehicle has now learned the PASSLOCK Sensor Data Code and/or password.
Here is also a link for you if you wish to add a Passlock-II bypass system.
http://www.gmpasslock.com/