very difficult unless you can get it ito a jig on a milling machine.
what is it M5 ? steel bolt in aluminium, it has probably corroded itself in place. and any attempt to drill it, and the drill will wander into the softer metal
If I was to give it a go, (it needs soaked in diesel for a week) then you have to be very accurate with the centre punch, then a centre point drill just to take some material away from where it has sheared. Then try a 3mm left hand drill (a sharp (new) 3mm left hand drill) with plenty cutting fluid, (do not let the drill wander) you never know your luck it may come out during the drilling . if not, your in trouble,, heat it up and stud extractor,