Hi, I give you what i can from experience. You say 'larger wheels', but this could mean several things
If you mean larger rims, and then thus smaller tires, I would not say that the ride would be impacted until you tried going off road. However, most often when people get bigger wheels, they also get wider tires. My experiance is that there is a plus and a minus.
The minus is that you truck will fight you more in wheel ruts (you know, sunk pavement) than with the more narrow tires.
The plus is that the ride is better. I run the stock 17" 265's in the winter and switch to 20" 295's in the summer. Switched about a month ago and the ride was much smoother.
That said, watch the GM service guys when you go in for service. They will take the psi down to 34 or 35, whatever the manual says, but that is not the best to run. I need to take mine back to 40.
Now if you are talking about bigger wheels and tires, as in with a lift, I have no experience with this.