2001 Cadillac Deville air bag

How big of a bump did you hit? Under normal situations an average pot hole ( I am in NW PA, where you can loose a honda in our pot holes) should not damage your air bag system. Best guess would be a connector worked loose at one of the many componets of your air bag system.
Your vehicle may also be equipt with a passanger occupant sensing system that tells the air bag module if the front passanger is an infant or child, putting heavy cargo or changing of weight distrabution while hitting a large bump could send a false signal setting the air bag light.
All this being said, I do not recommend working on an airbag system without the proper training. I am all for DYI, but air bag system diagnosis and repair can be dangerous. When the bags deploy they do so with explosive force, enough to cause injury if you are not positioned properly in the vehicle (as you would be driving or riding with your safety belt on)
I would recommed having it diagnosed by a trained and equipt technician. That doesn't always mean your local cadillac dealer, there are many good diagnosticians at chains and independant repair shops. Ask your friends and coworkers for referals.