Just wondering, but would the following link have anything in common with the method to change wheel bearings on an X5 (It's of a 7 Series front wheel bearing replacement)?

How to: Front wheel bearing (hub) replacement

It's the closest I could get to a BMW front wheel bearing replacement guide that was nicely photographed and (relatively) simple in documentation.

Edit: On second thought, disregard this entirely. The front wheels are also powered on the X5, as opposed to the RWD of a 7-Series. Whoops, sorry.