Yes, the wheels fit fine. However, in the rear of the 540, you can't use a 275/35 on the 9.5" M5 rim without rolling the fender lip and installing the M5 fender liners. I think some have gotten away with 265/35's and only rolling the fender lip. In any event, to do it right and prevent issues, the lip needs to be rolled, M5 liners are needed, and in most cases the fender needs to be pulled out a bit with a body shop tool. See the following links:
2001 M5 LeMans Blue/Silverstone
Dinan: springs, Konis, rear sway bar, monoball bushings, and exhaust
Ground Control camber plates
Stoptech front brake kit
Brake ducts opened
TC Design brackets
OE 9.5" rear wheels all around & 275/35-18 Dunlop Direzza Sport Z1 Star Spec for street
275/35-18 BFG R1 & Nitto NT-01 R-comps for track
2003 330i ZHP 6MT Imola Red/Black Alcantara
2006 330i sport 6MT Electric Red/Black
2001 Audi S4 6MT Silver/sport Alcantara
1996 Volvo 850R wagon
The E39 has a unique centerbore diameter, so I don't think they will work on an X5.
__________________ Current stable:
2001 M5 LeMans Blue/Silverstone
Dinan: springs, Konis, rear sway bar, monoball bushings, and exhaust
Ground Control camber plates
Stoptech front brake kit
Brake ducts opened
TC Design brackets
OE 9.5" rear wheels all around & 275/35-18 Dunlop Direzza Sport Z1 Star Spec for street
275/35-18 BFG R1 & Nitto NT-01 R-comps for track
2003 330i ZHP 6MT Imola Red/Black Alcantara
2006 330i sport 6MT Electric Red/Black
2001 Audi S4 6MT Silver/sport Alcantara
1996 Volvo 850R wagon
Per the information in the first of these links, make sure you get a roller that is large enough. I went to a friend of mine's house who is an Audi fanatic (has 2 S4s and an A4) and his fender roller, which looked identical to the one in the picture in the first link in this thread, would not fit over my center hub.
My M5's rear fender/quarter panel lip was gouging my tire (known factory 'defect' on a lot of M5s) so I had a local body shop roll both of my rear fender lips. They did a great job and since my car was in for body work anyway they didn't charge me anything. I've heard that this is not an expensive service.
This has to be done carefully as there is a risk of breaking the paint, hence the recommendation to 'leave it to a professional' in the 'fender lip rolling' link in this thread.
I've read in threads here that this can also be done with a tire iron and a baseball bat, but I wasn't about to attempt that!
You could get a set of front M5 wheels for the 540 - would avoid rolling fenders - and run 8.5s all around...
Cheers,
-Darryl
The stock fronts are 8" wide.
__________________ Current stable:
2001 M5 LeMans Blue/Silverstone
Dinan: springs, Konis, rear sway bar, monoball bushings, and exhaust
Ground Control camber plates
Stoptech front brake kit
Brake ducts opened
TC Design brackets
OE 9.5" rear wheels all around & 275/35-18 Dunlop Direzza Sport Z1 Star Spec for street
275/35-18 BFG R1 & Nitto NT-01 R-comps for track
2003 330i ZHP 6MT Imola Red/Black Alcantara
2006 330i sport 6MT Electric Red/Black
2001 Audi S4 6MT Silver/sport Alcantara
1996 Volvo 850R wagon