Short answer is NO.
The long answer is you could go aftermarket and install a by-pass oil filter. Many makes and models on the markerts. I will let other chime in on those, as there is always some discussion on which is better etc.
The 5.3L was designed around a smaller oil filter, it fits close to the oil pan and anything larger would not fit and hang down lower than the pan, exposing it to off-road hazards. btw-The 2003 and 2004 use even a smaller fitter, PF 46 which is about 2/3 size of PF59. Take if from a long time GM truck owner, keep the same size filter it came with and don't experiment.
btw - I have 2001 E. Cab Z71 SLT GMC with 5.3L and I use the Amsoil SDF64 (PF59 equivalent)
Mike
2002 Firebird TA WS6
2001 GMC EXT Cab SLT Z71
1992 Silverado SWB 4X4
[ February 03, 2004, 09:22 AM: Message edited by: Mike ]