I thought I would start out in saying that I think this is a random, but great question. This is because as you said there's so little information out there regarding this sort of reaction so it was an interesting little puzzle for me to figure out for you.
My guess would be that the reaction you detailed would not occur. This double replacement reaction would occur in aqueous solution as otherwise the product of magnesium bicarbonate probably wouldn't have a chance of forming since at least one other alkali earth metal bicarbonate salt, calcium bicarbonate, does not exist outside of aqueous solution. I tell you this piece of information instead of whether magnesium bicarbonate exists outside of aqueous solution because I just don't know for certain whether it does. Evidence for this theory that it doesn't exist out of aqueous solution includes (in addition to the point raised above about calcium bicarbonate):
- Magnesium bicarbonate's predicted partition coefficient is -0.809 according to chemspider which is identical to the predicted partition coefficient for calcium bicarbonate which makes it very likely that it is highly water soluble.
Since it occurs in aqueous the only driving force to the reaction would be the production of an insoluble salt, in your reaction, however, there is no insoluble products that results.
Therefore I suspect an alternate reaction would occur. Namely:
$$\ce{2NaHCO_3 + MgCl_2 -> 2NaCl + MgO + H_2 O + 2 CO_2}$$
As this reaction would lead to three insoluble products and thus would invoke a greater drive for the reaction.