Well....you could use your 5" suspension lift and throw on a 3" body lift...much cheaper than all that other stuff just mentioned...not that the above isnt the "Right" way to do it...
How you going to be using these 38's...or this truck rather...lots of wheeling or pavement pusher...be honest...it will make a big difference.
You could also do some cutting to fit the larger tires without going to 10 inches...Icelanders do it all the time on everything...
Look up Arctic trucks...read a little...pretty much no motor changes...they do regear but run stock axles...not all of them...but alot of them...and go with little or no lift...but stuff 38's and 44's regularly...
The suggestion of axles from a 2500 is a good one though....no way around it...60/70 would be way better...and would allow for lower gear ratio...you can find these in u-pick yards for 2-300 bux for the pair....or you can scout for a parts truck from an insurance auction or junkyard and just buy the whole truck...take the tranny an tcase axles etc...
I'm running 5" suspension, 3" body and 37 x 13.5 nitto mud grapplers on big heavy 22" Rims....staying with 4.56 gears on these diffs as after much contemplation the 4.88s would be at a greater risk of breakage due to them thinning out in order to fit in these smaller diffs.
Just to be perfectly clear however....nothing Okie said up there is a lie lol.....he was spot on with his advice...