I beleive it's attached with double sided tape. You can just pull it off.
I haven't heard of it being a factory option to not have the badge on the car.
Get a professional motorsports full featured stopwatch app for your Blackberry here: http://appworld.blackberry.com/webstore/content/19464
Invest Wisely...The best mod for your money?? BMWCCA high performance driver's school. The mod that lasts a lifetime and improves the performance of any car you drive