The price includes a $995 destination charge and reflects no increase from the base 2016 model.
In comparison, the base 2017 X5 starts at $56,495, including destination fees.
The X5 M features a 4.4-liter turbocharged V8 engine, an eight-speed automatic transmission and all-wheel drive.
Options include a $3,700 Bang & Olufsen sound system and a $2,300 night-vision system with pedestrian detection.
Edmunds says: The 2017 BMW X5 M is aimed at shoppers who want one of the most sought-after luxury SUVs.