The cylinder is a purely mechanical deal, so no "programming" can be done to it. That said, you can't put just any old cylinder into the thing and expect it to work, as the cylinder has to match your key. You can get one like that through BMW, after providing proof that it's really you that owns the car. I heard the cylinders were a bit more expensive than $90 though; not sure what you'd get for $60.

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2001 X5 Sport 3.0/5-speed
1998 318ti/5-speed
1988 735i/5-speed
1984 528e/5-speed (soon to be M20B25-powered 525i!)