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I would get left hand fluted drills, the ones which cut counter clockwise, and drill it out.. The bolt may back out while your drilling it hence, the left hand drills. An easy out might work but, I would not want one breaking off in such a small hole. Great trouble then.
I have drilled out afew broken bolts although, not on my Ford. Use a center punch and get it right in the middle, centering the drill bit is crucial. Penetrating oil would be a good idea to use.
Thats how I'd roll.
''Keep your words soft and sweet for some day, you may have to eat them'' - Confusius
Zedrive seems to speak from experience so certainly use his advice about this---sounds reasonable to me. Maybe also use a tap to clean the threads after removal, get a new bolt directly from Ford---about $5 each though.
Use a dab of anti-seize when re-installing too----can't hurt a bit and will prevent this from happening next time.
Pick up the correct size easy out and the specified size left hand drill for the easy out. Center punch the broken bolt in the center and drill down far enough so the easy out can get a grip. The bolt will probably work its way out during the drilling process as Zedrive said. I remove broken bolts all the time with that method.
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