Dr. Peter Enns (yes the doctor who got into so much hot water this past spring over inerrancy and inspiration etc.) gives this definition to inerrancy,
I affirm that I am committed to the Bible’s inerrancy as a function of its divine origin. If I may offer a thumbnail definition, the Bible as it is is without error because the Bible as it is is God’s Word.
Before you respond to this definition, read the rest of the post to get more of a context for the statement. But I am interested to hear responses to this topic.