I have a 2011 X5 and a Samsung Galaxy S7. I have no problems streaming Bluetooth audio to the vehicle. I think I remember seeing "Please wait" occasionally but audio was still being played. What doesn't work the vast majority of time is the audio track information display via Bluetooth.

It displays randomly, sporadically. It worked all day yesterday through several off and on ignition cycles until I got in at work to go home and then it didn't. Between this behavior and the rare "Please wait" all the while the audio is playing perfectly has me clueless as to the problem. I've unpaired and paired numerous times. The BMW NA website says I'm up to date. I primarily use Pandora.

Hate to piggyback on your issue but it seems related.

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8/2011 X5 xDrive35d Sport, Black Sapphire Metallic, Black Nevada Leather, Fine Burr Walnut Trim
2/2001 M5, Jet Black, Exclusive Complete Black Walk Nappa Point Heritage Leather, Black Cubic Trim