Light has been on for months.
Why ELV light stays on? on 2007 BMW 530i
I would recommend you to have that (Electronic Steering Lock System) inspected because it could turn into a intermittent no start. Possibly could be rectified by a simple Software update per BMW Test Plan Per Diagnostic Fault. There are some TSB's addressing that indicator already. Check with your normal Service provider or locate a qualified repair facility @ Bimrs Org. Good Luck