Yes. bit it is also wider, longer, heavier, and has fewer seats. Oh, and it costs more. It does have some technical advances in terms of engines and drivetrain, which won't come to the E70 until next year's models.

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2007 X3 3.0si, 6 MT, Premium, White

Retired:
2008 535i, 6 MT, M Sport, Premium, Space Grey
2003 X5 3.0 Steptronic, Premium, Titanium Silver
2002 325xi 5 MT, Steel Grey
2004 Z4 3.0 Premium, Sport, SMG, Maldives Blue