Got all my fluids (coolant and distilled water) to do a coolant drain and fill then got under my X ('06 X5 3.0i) to start the drain process and saw this white/blue "plug":



I assume this is the drain screw with the head broken off, but before I order a new one and try and drill this out, I want to confirm (it's on left/driver's side of the radiator). Has anyhow had this happen and/or drilled it out with bolt removal tool (I have these tools)? I could also remove the bottom hose to drain but would like to replace this for future use if you think it's an easy fix. The last thing I want to do is end up with this drain screw stuck in the radiator with a hole allowing the fluid to drain out and have to get a new radiator.

Thanks!