Offering a song to another artist

[warble2]

Hey all,
I have a good friend on MySpace and she's recording a new project. I had a demo song up there last year, and she sent me a message telling me she really loved the song. I've also talked with her producer before, and in a general "how are you" email, he stated they were looking for songs. I told him about this song and that she really liked it, and perhaps she'd be interested in recording it as I will not be. He asked if he could be sent the demo MP3 for consideration to produce.

What's the general road to take with this sort of thing? I have it copyrighted, and am also a member of BMI, but need to get this one included in my registered works with them.