Ps3 wont start with disc in there -.-?

Hey hows everyone doing, my ps3's developed some type of wierd issue -.- it wont turn on when a disc is in there, if i press the power button it just starts for 2 seconds has the 3 error beeps and shuts off with the flashing red light, however when i turn it on by ejecting the disc it starts fine or when there isnt a disc in there, the discs once started however play fine .....

This is a 40gb ps3 (now 250gb) from December 2007.



Thanks for all the help.

A lot of people say the flashing red is just being overheated but obviously thats only the case sometimes. My PS3 does the same thing except now never comes on and is just a useless paperwieght now (60gb launch also upgraged to a 250GB). So it may be a sign of things to come, if i was you i would start backing up your HDD with an external and possibly start deleting important info if you use credit cards etc to buy stuff on PSN. Now i cannot do that and i lost every game save from the last couple years.