My PS3 won't play blu rays!!!! ???

[Climacus]

I've owned my 60 GB ps3 for a little over 3 years now and have never had a problem with it, until yesterday when I tried to watch a new blu ray (Pan's labyrinth) and it would not load. I freaked out & tried another blu ray and it wouldnt load now either! Ive watched numerous blu rays in the past and never had a problem. I always keep the machine updated so I dont think thats the issue. What is odd is that it will still play regular dvds and video games.. Ive been looking around the net and I guess this happens.. I really dont want to have to shed out 150 to get it fixed but it's looking like I just might have to do that.
any help would be grrreatly appreciated.. and beware if you have an somewhat old machine! Im starting to get the feeling these dont have a long life span....