as shivers has said the cornering ability will be reduced, but as far as fitment it should fit fine. I was running 195/60-14's on my LS with no problems.

Now for winter I am running 4 brand new:

Nokian Hakkapeliita Q's- Dedicated non-studded snow tires in the size
175/80-14 and they clear with plenty room to spare in all directions.

On a sidenote these tires work AWESOME in the snow!
They cost me around $270 shipped to my door from tirefactory.net

I would recommend these very highly, I haven't tried Blizzaks, but at a SCCA Prorally in Michigan I saw almost every car Running these Nokians, but one (Seriously, No Joke) who was running Blizzaks. If guys at rallys are using Nokians over blizzaks in the snow, then I decided Nokians should be the ones I buy for the snow too. The rally guys can't afford to run less competitive equipment.