Just a quick follow-up... After swapping the O2 sensors the code was still the same, so I took it to the dealers service dept. and after the "testing" it turned out to be a bad cat (at 4 yrs and 24000 miles! ). Anyway it's covered under the emissions warranty so it will be fixed tomorrow.
Thanks everyone!

 

Only 4 years (24K miles) hmmmmmm???
Good to hear the bad cat is covered under warranty. =-)