The stringent requirements on reliability and processing delay in the fifth-generation ($5$G) cellular networks introduce considerable challenges in the design of massive multiple-input-multiple-output (M-MIMO) receivers. The two main components of an M-MIMO receiver are a detector and a decoder. To improve the trade-off between reliability and complexity, a Bayesian concept has been considered as a promising approach that enhances classical detectors, e.g. minimum-mean-square-error detector. This work proposes an iterative M-MIMO detector based on a Bayesian framework, a parallel interference cancellation scheme, and a decision statistics combining concept. We then develop a high performance M-MIMO receiver, integrating the proposed detector with a low complexity sequential decoding for polar codes. Simulation results of the proposed detector show a significant performance gain compared to other low complexity detectors. Furthermore, the proposed M-MIMO receiver with sequential decoding ensures one order magnitude lower complexity compared to a receiver with stack successive cancellation decoding for polar codes from the 5G New Radio standard.