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According to E60orBust, you can do the following:
1: Push start button or attempt to start the car (even if it doesn't turn over, just push it [ignition button] down anyway)
2: Push the [shift] lever twice in to N
3: Push the [shift] lever to N and hold for 5 seconds
4: Transmission is now disengaged for 15 minutes after which it will re-lock itself.
The new 8speed transmission no longer require a tool to release it into neutral. I sure wish I had this info when my first X5 died in the middle of a busy intersection.
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