X5 3.0 squeaking from belts when engine cold

[g300d]

Hey guys, I am having a slight squeaking sound from the drive belt area on first start in the morning. Not an obnoxious high pitched squawking, it is hardly noticeable from in the car and can be easy to miss if you arent looking for it.

Sound goes for a few seconds, then goes away for a second or two, then starts again. This goes on till the engine is warm and squeaking will not happen again till car is parked overnight or longer.

All drive belts are brand new Continentals replaced maybe a month ago.

This is an 04 X5 3.0i by the way.

This car is relatively new to me so any input on where this could be coming on these M54 engines as a place to start would be appreciated.