QUOTE: They do make the correct size but not in an E tire, only sl. The closest size is 3.8% taller, messing up the final drive ratio, and the speedometer.
3.8% taller is only about an inch - and speedometer can easily be adjusted. In fact,it will give you a very tiny increase in mpg (probably unmeasurable) as its a tiny bit longer per axle spin. Won't hurt your RE long as you do all four same size.
Stock tires on 2003 GMC came 245's and went to 265 without an issue. Had them on now since the beginning - 211,000 miles and several sets of 265's.