I had the same issue, plus the speedo crapped out. Turned out to be a bad wheel speed sensor in the back. (They run the speedo and feed info to the ABS computer and traction control) Total cost was $138 installed. I'll keep my fingers crossed for you.

__________________
2013 X5 xDrive3.5i Premium
2002 530I Sport Package
2001 X5 4.4i
2001 M3