What does I/O error report from disk mean?

`dmesg' shows multiple occurrences of this
error message:

-> hdb: read_intr: status=0x59 { DriveReady SeekComplete DataRequest Error }
-> hdb: read_intr: error=0x40 { UncorrectableError }, LBAsect=48409, 
sector=48346
-> end_request: I/O error, dev 03:41, sector 48346


What does this mean?  Eg, is sector 48346
irreparable?

-c



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