I don't see why not but I don't know much about extended warranties. My car has just shy of 30k miles. Lots of m3s out there with many more. I think a warranty would be a waste of money unless you are just looking for piece of mind. Then again, other than the free maintenance, I do all the work on my cars myself so repairs don't bother me too much. Most extended warranties don't cover wear and tear items, which is what you mostly see on bmws in the 4-7 year old range.
2013 e92 M3 6MT IB/BB - ZPP - ZCP - Dinan S1
2001 e46 325xiT 5MT - ZPP -ZSP - TiAg/Grey Leather
2003 e46 M3 SMG - LSB/BLK
SOLD - 2008 e90 M3 6MT AW/FR - Dinan S1