The emblem can be easily pried off. It is just pressed into two plastic grommets (see pic below). Use a thin flat tool to pry it off.
Check out emblems on offer from ebay - You might like the black carbon fibre type available like these.

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Cheers, Brian

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2001 X5 4.4i Sport
Black Sapphire, Hi Gloss Shadowline, Full Privacy Glass.
Too Cool for Jack Bauer