Those codes are NOT O2 sensor malfunction, yet the O2 sensors telling you that what they are measuring is not within range. It would help alot to know whether it was mixture too lean or mixture too rich, but aftermarket scanners do not give you all the viable info for these problems.

If I had to guess I'd say it is most likely mixture too lean, which is caused by unmetered air. (ie: vacuum leaks)

What year X5, which engine do you have, how many miles?

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X5 pics

RIP 4.6is.....

2003 4.6is