There was someone on here towing one of those aluminum looking fullsize trailers w/ pics of it behind his X5. Try checking the towing threads...I think you might be pleasantly surprised what the X can tow. That one looks like a small car trailer, no? If you're just wanting to tow a regular trailer, i'd just go that route for like $1-2k.
I'm in the middle of trying to purchase a few of the removable European tow hitches so myseld and another member here can tow race bikes to the track  Sorry I can't help more.
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650hp 10 X5///M - Stage 2, Vibrant 1794's , gutted cats, custom intake, AC Forged 22's 325hp 98 BMW 740iL - ///M5 6spd, www.bavengine.com w/ Performance Option, electric fan, CF intake tube w/ heatshield, Mag 14816 w/ notched bumper, Bilstein/H&R Stage II/Powerflex
600+hp 02 Harley F150 - MHP900 Stage 3 engine, KB2.3, 8# lower, 60# inj, Walbro FP's
135hp 01 TL1000R - M4 full exhaust, K&N, Yosh box, -1/+2 gears, 2CT's
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