Yup, I picked up a 2001 R-bike alternator for my '87 K75 at some ridiculously low price, and the conversion parts from BMW are surprisingly inexpensive. (It was the newest part on my bike until recently, when I discovered that the K1200 water pump up through 2009 is also the same as mine. Those are also stupid cheap when listed "for" a K1200, vs for a K75.)
The hardest part of the installation was getting that nut tight, holding the cup ("clutch housing") onto the alternator shaft. It's imperative that the nut not stick out any further than its design height, within the cup, or it can rattle against the drive unit on the bike. The alternator itself bolts right up.