I'm having the same issue on Ubuntu 64 bit 14.04.03.

user@xps15:~$ uname -a
Linux xps15 3.19.0-47-generic #53~14.04.1-Ubuntu SMP Mon Jan 18 16:09:14 UTC 
2016 x86_64 x86_64 x86_64 GNU/Linux

user@xps15:~$ cat /var/log/syslog | grep dnsmasq
Jan 23 10:19:48 xps15 NetworkManager[883]: <warn> DNS: plugin dnsmasq update 
failed
Jan 23 10:19:48 xps15 dnsmasq[2831]: setting upstream servers from DBus
Jan 23 10:19:48 xps15 dnsmasq[2831]: exiting on receipt of SIGTERM
Jan 23 10:20:05 xps15 NetworkManager[3753]: <info> DNS: loaded plugin dnsmasq
Jan 23 10:20:10 xps15 NetworkManager[3753]: <info> DNS: starting dnsmasq...
Jan 23 10:20:10 xps15 NetworkManager[3753]: <warn> dnsmasq not available on the 
bus, can't update servers.
Jan 23 10:20:10 xps15 NetworkManager[3753]: <error> [1453569610.971673] 
[nm-dns-dnsmasq.c:396] update(): dnsmasq owner not found on bus: Could not get 
owner of name 'org.freedesktop.NetworkManager.dnsmasq': no such name
Jan 23 10:20:10 xps15 NetworkManager[3753]: <warn> DNS: plugin dnsmasq update 
failed
Jan 23 10:20:10 xps15 dnsmasq[3764]: started, version 2.68 cachesize 1000
Jan 23 10:20:10 xps15 dnsmasq[3764]: compile time options: IPv6 GNU-getopt DBus 
i18n IDN DHCP DHCPv6 no-Lua TFTP conntrack ipset auth
Jan 23 10:20:10 xps15 dnsmasq[3764]: DBus support enabled: connected to system 
bus
Jan 23 10:20:10 xps15 dnsmasq[3764]: warning: no upstream servers configured
Jan 23 10:20:10 xps15 dnsmasq[3764]: cleared cache
Jan 23 10:20:11 xps15 NetworkManager[3753]: <warn> dnsmasq appeared on DBus: 
:1.98
Jan 23 10:20:11 xps15 dnsmasq[3764]: setting upstream servers from DBus
Jan 23 10:20:11 xps15 dnsmasq[3764]: using nameserver 127.0.2.1#53

user@xps15:~$ dpkg -l network-manager
Desired=Unknown/Install/Remove/Purge/Hold
| Status=Not/Inst/Conf-files/Unpacked/halF-conf/Half-inst/trig-aWait/Trig-pend
|/ Err?=(none)/Reinst-required (Status,Err: uppercase=bad)
||/ Name           Version      Architecture Description
+++-==============-============-============-=================================
ii  network-manage 0.9.8.8-0ubu amd64        network management framework (dae

user@xps15:~$ dpkg -l dnsmasq-base
Desired=Unknown/Install/Remove/Purge/Hold
| Status=Not/Inst/Conf-files/Unpacked/halF-conf/Half-inst/trig-aWait/Trig-pend
|/ Err?=(none)/Reinst-required (Status,Err: uppercase=bad)
||/ Name           Version      Architecture Description
+++-==============-============-============-=================================
ii  dnsmasq-base   2.68-1ubuntu amd64        Small caching DNS proxy and DHCP/

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https://bugs.launchpad.net/bugs/1048430

Title:
  "dnsmasq not available on the bus"

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