Sorry to bump an old thread, I paid .25c just to reply!

youry: Thanks for posting up this info. Like you I searched online and found a random mish mash of info about this P0340 code on my '01 X5 3.0. I'd love it if you could post the part number and the direct link to where you bought it from!

m5james: Why do you have to be so rude? His post has already reached someone (me) who has never heard of xoutpost.com before. He has the most definitive information yet online about the P0340 on the X5. He's helped xoutpost.com generate hits (and quarters) from unique visitors like me with problems and you've helped waste bandwidth complaining about it. It's people like you who make reading useful threads more difficult with your unnecessary banter. I'd delete them if I were you for future P0340 searchers like me to make it easier on society.