@jdstrickland: You must have a crystal ball or something! Yes, the car is driven only a handful of miles each day. I will follow your suggestion and drive it a bit with the new spark plugs and see how it does. But... please! Could you explain HOW you knew this was the case? :-) Curious to learn :-)

@X5only: I had not paid attention to the exhaust in the mornings but will do so now. I am off to doing some google searches on valve stem seals. I bet that's the source of the problem because I know those have never been replaced (I am its only owner!) :-)

Thank you both!

__________________
2001 BMW X5 3.0i, Automatic, Gasoline