There is a horseshoe clip that needs to be pulled back. It is easier to see when it is off. Be careful not to break it, that is what often happens.

See the following post for more details.

http://www.xoutpost.com/765581-post28.html

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2007 X3 3.0si, 6 MT, Premium, White

Retired:
2008 535i, 6 MT, M Sport, Premium, Space Grey
2003 X5 3.0 Steptronic, Premium, Titanium Silver
2002 325xi 5 MT, Steel Grey
2004 Z4 3.0 Premium, Sport, SMG, Maldives Blue