Both my brother-in-law and I tow race cars behind X5s with the 3.0 motor for years without any problems. Both trucks have Draw-Tite 6,000 lbs hitches installed. They are the ones with the extra brace. Although I am not convinced that the brace offers any benefit. Installation was very easy as I remember.

In addition to the hitch you will need the factory towing module. It is used to powers the lights on the trailer. This ran around $250 from the dealer a few years ago. Also, if you plan to be using a trailer with electric brakes you will need a brake controller. There are several sold that pretty much do the same thing. I do not remember the make of mine. There are also many DYI postings on how to hook that up. IMO most are much more complicated that need to be. Feel free to contact me if you need additional information on how I hooked up mine.