Since you're looking for Bluetooth integration for your car, I would go all the way and update the entertainment technology and dash looks of the X5. Consider the Eonon GA5166 Android headunit upgrade for a reasonable price of around $450. It has 7"
capacitive touch screen (like the one on your cell phone), OEM looks, Bluetooth version 2.0 (you will enjoy music streaming from your phone and hands free calling), Wifi, NAV, integrated mic, supports steering wheel functions, has radio, DVD, USB, SD, iPhone connection, aux and rear view camera support. Since it's an Android system it is a tablet too, so you can install any app you like such as Torque (OBD2 performance and diagnostics app) with which you would not only get OBD functions, but real time readings and thus no need to put the mid in the glove box. It also supports wireless hot spot so you can get in-car internet connectivity through your smart phone. It supports screen mirroring too! Installation is virtually plug and play if you don't have DSP.
Eonon GA5166 | BMW E39/E53 Android Car DVD | BMW E39/E53 Specific Car DVD | Android Car DVD for BMW E39/E53
I would have gotten this if my X5 didn't have DSP and NAV. I got the Dynavin N6 for a helluva $799 but it's worth it.