Security light comes on and car will not start

I have this problem off and on. I go to start my car and it will not start. It turns over but will not start. Then the security light comes on and starts flashing. Even after I pull the key out it still flashes. If I wait about 5-10 mins the car will start normaly. Can anyone shed some light on this problem?

What has happened is the theft deterent has recieved a bad signal when you turned the key and the security system has gone into theft mode and cut off fuel enable....in laymans terms...your car thinks you are stealing it.
The 10-15 wait is a kind of fail safe that will allow you to start the car...
Most likely what has happened is the passlock sensor is degraded and is sending a bad signal.
Most likely fix is replacing the passlock sensor and the ignition switch.......I think there may be a tech bulletin pertaining to this...But before you do anything, have a factory trained tech check the security system operation.