Okay, here's the conversion I've got. It's a little rough... but it more or less correllates. Thanks everyone for the help with that equation.
Spellcaster Level:
Use same rules as Buy the Numbers; directly convertable.
Lists:
List Number - Cost in XP
1 - 10
2 - 20
3 - 30
4 - 40
5 - 60
6 - 80
7 - 100
8 - 125
9 - 150
10 - 185
11 - 250
12 - 315
13 - 405
14 - 495
15 - 585
16 - 675
17 - 765
18 - 855
19 - 945
20 - 1060
21 - 1180
22 - 1310
23 - 1450
24 - 1600
25 - 1725
26 - 1875
27 - 2000
28 - 2175
29 - 2325
30 - 2550
31 - 2750
32 - 2900
33 - 3100
34 - 3300
35 - 3500
36 - 3725
37 - 3950
38 - 4150
39 - 4375
40 - 4600
41 - 4875
42 - 5125
43 - 5400
44 - 5700
45 - 6000
Mana Points:
Total # of MP - Cost of Each MP
5 - 8
10 - 16
15 - 24
25 - 32
35 - 40
45 - 48
60 - 56
75 - 64
90 - 72
110 - 80
130 - 88
150 - 96
176 - 104
200 - 112
225 - 120
255 - 128
285 - 136
310 - 144
345 - 152
380 - 160
There you go! Now you can use Buy the Numbers with Elements of Magic!
Note: after 2 nights of playtesting, I have to say it's pretty important to impose a few limits onto Buy The Numbers: Cap your characters' BABs, Caster Levels, and hit dice to match the amount of XP they've earned. This gives players all the flexibility they could want without causing encounters to get unbalanced.
So far my players are really enjoying this hybrid system.
Update:
After a few weeks of playtesting, here are some house rules I've added to keep game balance (otherwise the effective party level because very unbalanced and it gets hard to adjudicate encounter difficulties).
1. You can't purchase more hit dice than your effective character level (XP total compared to the standard D&D levels).
2. You can't purchase a higher base attack bonus than your effective level.
3. You can't purchase a higher caster level than your effective level.
4. You can't purchase more ranks in skill than your effective level +3.
--and relative to this system:--
5. You can't purchase more magic points than (number of lists known)*(spellcaster level).