You can fit 33x12.50R15's after the BL and it would look AWESOME!! Here's my friend's 08 that's been PreKey'd and 3" BL'd on 33x12.50's and 15x8's....
Summit BL: $150
98-07 Torsion keys: $60 ea brand new
15x8 steel wheels: $40-60 ea brand new
33x12.50R15 tires: depending on type/brand, $150-200 ea.
I suggest the 15's over the 16's because 15" wheels are alot cheaper and the 15" tires are alot cheaper. Plus, you can even look into craigslist for really good wheel/tires for ALOT off retail. TONS of depreciation on wheels and tires. I've only ever bought 1 set of brnd new tires for my truck. Always craigslist specials!
Something I see alot of folks do and it helps build credit, is doing wheels and tires via a tire shop and financing it through them. I don't suggest going into debt as I like to pay cash for everything, but it's a nice option to take, build credit, and only ends up being about $50 a month at a low interest rate.