The part that needs replacing is called a flame trap. This is an inexpensive component changed at service intervals. I assume that you refer to 500 US Dollars, and not pounds sterling. It still sounds way too expensive to me for a flame trap. I'd take to the car to a Volvo retailer, or to another specialist for the work to be carried out.
The 2001 Volvo S60 has 20 valves.
The 2001 Volvo C70 has 20 valves.
The 2001 Volvo S80 has 24 valves.
The 2001 Volvo S80 is a gas-powered vehicle.
The 2001 Volvo S60 has a 5-speed manual.
The 2001 Volvo S80 has an inline 6 engine.
The 2001 Volvo S60 is a gas-powered vehicle.
The 2001 Volvo C70 has a 5-speed manual.
The 2001 Volvo C70 is a gas-powered vehicle.
The 2001 Volvo S80 has a 4-speed automatic.
The 2001 Volvo S60 has an inline 5 engine.