with that tire (205/55/16), you're looking at a diameter that's 1.7 inches more than it should be. that is way too much. you'll feel/see the difference in everything, and not in a good way. acceleration, milage, speedo..
like jgordon said, 205/45/16 is a much better fit for you. if you still think that is too small, maybe you should look into 15" wheels.