Need some advice, keep it or part it out

[NewX5girl]

Hi guys, I am new and very new to owning a BMW X5. I just bought a 2001 x5 with a little over 157000 miles on it. It is in pretty excellent condition estheticly and everything works.

Here is where things get sad. I had the SUVs 2 days and I was getting off the freeway and felt sputtering. I looked down and saw I was overheating (hose blew lost all coolant, no warnings). Long story short, I tried to get it to my mechanic who was right down the street..... You know the rest.... Blow head gasket possible cracked block.

So the question. Do I replace the engine or part the car out and cut my losses. I really liked this suv and it hurts to have thrown my money away

Any advice would be welcome. Thanks guys...