I just had the trifecta kick up on mine last night. Yuck. I haven't had it scanned, and didn't notice the clicking, but will check for that, too, and read the bimmerfest posts QSilver was good enough to link. Are all three likely culprits [wheel sensor, ABS module, and plastic drive wheel in the transfer case actuator] DIY on ramps with common tools? Guess I'll be reading further ...

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2006 X5 3.0 6-spd w/Evo UUC ssk
sport/premium pkgs
born Valentine's Day, 2006.