Panic not - my 2007 E70 3.0d M Sport (UK Spec) has this MyInfo feature now - I can't see that there's much, if any, hardware to be changed!

All you receive is a phone number, text message or map coordinates after all! I believe the system uses the same installed mobile (cellular) technology and SIM card as BMW Assist (i.e. the SOS button, etc.) in any case....