Yes, the E65/E66 updates with the same OS release CD as the MKxx computers. Your car has either the NAVI01 or NAVI02 computer, depending on its date of manufacture. (The NAVI01 is CD-based, while the NAVI02 uses DVD-based maps.) The latest OS for the NAVI01 is v. 7.3.2, and the latest version for the NAVI02 is v. 8.4.4.

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2000 E38 750iL Highline Edition, Upgraded with the lastest 2006 X5 Electronics
MKIV Navigation, 16:9 Display, Bluetooth, TV/Video with Backup Camera, Sirius, and Aux Input