4t60-e knocking

[scottboy]

i hope someone got a answer for this 1. my 1995 grans am 3100 4t60e trans just developed a knock in the transmission. the knocking sound is coming from the area on the back of the tranny where the gear selector hooks on. the knock is there when the car revs in park and when i'm driving the car seems to come out of gear when the tires are turned, when tires are straighten up there is a loud thump and it goes back in gear again. is this tranny ready for the junk yard?
if it is the car may be going with it.