I looked into this quite a bit recently and in studying the wiring diagrams, I think it would be a definitely possible retrofit, though maybe not the entire Idrive system. The media system is pretty standalone and is the main thing using the MOST bus. The Instrument cluster acts as a gateway to the other systems much like ours does to the rest of the car (DME, EGS, etc.). To get the media system working though, shouldn't be that difficult. The CIC is composed of the display and the Nav/Media computer as the necessary components. People have been successful in bench testing these things, so I can't imagine why it wouldn't work in our cars. The relevant signals from the rest of the car that would be needed in the Nav system would be vehicle speed which, just like our e39's, is provided by the rear ABS sensor. As for the amplifier side of things, you'll have to leave DSP behind from what I can tell, unless you also retrofit the amp from the idrive car. If you do that, there's no guarantee that it will sound correct since it's assuming different speakers and acoustics. According to the wiring diagrams though, there is a basic amp in the newer cars that wouldn't require much to make work. Obviously, you won't be using the OBD functions and climate controls of idrive, but the media system should work. You could then use a MOST version of bluetooth TCU, MOST version CD-Changer, and anything else MOST bus equipped by simply daisy-chaining the components.
Of course, all this assumes that the instrument cluster is not needed to make all this work. I think there is a MOST controller that is separate from the cluster, but if not, then you might be able to hide an e60 cluster in the trunk somewhere. This seems unnecessary since, like I said earlier, I'm pretty sure people have bench tested these things before with only the media computer and display powered up. I hope someone decides to take this project on, because it'd be really cool. I'm not in a position right now to purchase all these components with the fabrication skills I don't have. I imagine there will some remote locating of some of the computer components to get it to fit in our dash, or it could be mounted in the trunk somewhere and relocate the control buttons to the dash.
The concept is out there guys, someone run with it!