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The galactic superluminal motion source GRS 1915+105 was observed with RXTE at several occasions during its ongoing active state. The observed X-ray intensity changes drastically on a variety of time scales ranging from sub-seconds to days. In particular, the source exhibits quasi-periodic brightness sputters with varying duration and repetition time scale. These episodes occur occasionally, while the more common X-ray intensity variations are faster with much smaller amplitudes. The spectrum during the brightness sputters is remarkably different from the spectrum of the mean high state emission. We argue that such sputtering episodes are possibly caused by a major accretion disk instability. Based on the coincidence in time of two radio flares following the observed X-ray sputtering episodes we speculate that superluminal ejections (as observed from GRS 1915+105 during earlier activity periods) are related to episodes of large amplitude X-ray variations., Comment: accepted as ApJ Lett., LATEX with aasms4.sty, 4 ps-figures