My advice - don't do it. The stock calipers look like crap and you would only be highlighting the ugliness of them.
'08 E90 M3 - Alpine White - Sold
'13 E92 M3 - Silverstone II - Sold
'04 E46 M3 - Jet Black - BBS E88, KW Clubsports, Brembo BBK, SuperSprint Exhaust, Recaro
'15 i3 - Laurel Gray - Why would I mod this thing?