Message bishop wearing lace pants (5)
I believe the answer is:
cable
'message' is the definition.
(as in sending a cable to someone)
'bishop wearing lace pants' is the wordplay.
'bishop' becomes 'B' (abbreviation for bishop in chess).
'wearing' means one lot of letters goes inside another.
'pants' indicates an anagram (UK informal term for 'nonsense' or 'rubbish').
'lace' with letters rearranged gives 'cale'.
'b' inserted within 'cale' is 'CABLE'.
(Other definitions for cable that I've seen before include "Telegram; wire rope" , "Telegram; thick rope" , "Satellite alternative?" , "Strong suspension bridge made of wire" , "Strong line" .)