Abstract:BM25, a widely-used lexical search algorithm, remains crucial in information retrieval despite the rise of pre-trained and large language models (PLMs/LLMs). However, it neglects query-document similarity and lacks semantic understanding, limiting its performance. We revisit BM25 and introduce BMX, a novel extension of BM25 incorporating entropy-weighted similarity and semantic enhancement techniques. Extensive experiments demonstrate that BMX consistently outperforms traditional BM25 and surpasses PLM/LLM-based dense retrieval in long-context and real-world retrieval benchmarks. This study bridges the gap between classical lexical search and modern semantic approaches, offering a promising direction for future information retrieval research. The reference implementation of BMX can be found in Baguetter, which was created in the context of this work. The code can be found here: https://github.com/mixedbread-ai/baguetter.