Mk1 Octavia vrs

Last night my car played up a bit. Every time i lifted off the throttle jerked quite violently. It did this for about 6 miles then the enginge light came on and it smoothed out again. I plugged in my fault code reader and it had generated code:

16885 - vehicle speed sensor range/performance.

After I cleared the code I took it out a run of about 7 miles and it flew along as normal and the code didn't return. Am I going to be needing a new sensor? And am I right in thinking that this speed sensor sends a signal to both the ecu and the speedometer?

This is the information in Ross-Tech's wiki for that fault code:

16885/P0501/001281 - Ross-Tech Wiki

so do you reccomend a new a sensor and how much they?