Indeed there is an update available....$200 if I'm not mistaken. You can order from your dealer. Think hard about blowing $200....I've had mine since spring of 2010 and frankly speaking, I've never had an address (yet) that hasn't shown up on the map version that shipped with the vehicle.
Other possible updates available for your multimedia and phone:
http://www.bmw.com/com/en/owners/nav...gion=&country=
Just key in the last 7 digits of your VIN. If you're not presented with a "Continue" button to bring you to the download page, then there's no update available for your vehicle. If it does, then follow the instructions and load to a USB stick and update your car.
Dave