If you have a 2006 E46 convertible with the BMW Assist/SOS button on the mirror, it should have Bluetooth.
Contrary to ANYTHING you hear, there is no button to push for pairing the Bluetooth in the car.
The ULF/TCU module should have the passkey right on it. You might try the last 4 of the VIN, but I cannot say this will work.
I had my 2006 E46 convertible for 4 years and I have never located the ULF/TCU module. It is likely in the trunk, but I did not want to pull all the lining off to access it. You could probably search the net for where the ULF/TCU is located in the convertible.
The easy way is to just buy the BMW Scanner 1.4.0 software from
www.xcar360.com and then you can read the Bluetooth passkey and also program your windows and top to close with your keyfob and do some other things.
One piece of useful information to note, when you are looking for parts other than the dealer, tell EVERYONE it is a 2005 not a 2006. Most parts people and parts applications do not realized the coupe and convertible in 2006 is an E46, they always think these are E9x.Very common for people to get the 2006 confused for an E9x chassis.