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traveltunes,
I have sold and mounted on 6.5 inch wheels, more LT265/75R16E tires than I care to count, and I have never seen a tire roll off the wheel because it was a half inch narrower than recommended. The LT245/75R16E's that came on your truck from the factory are 30.7 inches tall with a tread width of 7.5 inches. The LT265/75R16E's that you want to install are 31.8 inches tall with a tread width of 8.1 inches. This means the 265's are 1.1 inches taller, and .6 inches wider than the factory tires. The RPM ( Revolutions per mile ) on the 265's is 655, and on the 245's it's 679, a difference of 24 RPM.
As Rick said, it will cause your speedometer/odometer to give false readings, something that can be remedied very quickly and inexpensively at any GM dealer. It just requires resetting the computer to the new tire size. As far as the transmission shifting is concerned, you may notice a little difference. It would be like going to a slightly higher gear ratio in your rear differential.
As far as I know, all LT265/75R16E tires have the same load rating of 123/120 which means 3420 lbs single, and 3080 lbs dual. All the tires in this size, that I have references on, also recommend a minimum 7 inch wheel width.
All that being said, I will add this. I am in no way telling you what you should do, I'm just informing you of a few facts, and letting you know I have replaced many LT245/75R16E tires with the LT265/75R16E tires, and have had no problems. I recommend you do whatever you feel comfortable with, after reading what the rest of our members have to say about their experiences.
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