Off the top of my head, I say no, it won't fit.
The 245/65-17 tires on my '01 are about 29.5" in diameter, and just fit snugly into the compartment. The 265/70-16 are about 30.6", which I believe is too large, but measure the opening. If by chance it did fit, width of the tire is much larger also, so it would hold the door up from the floor.
I know it's been discussed previously, but just not certain of the answer.
a 265/75/16 tire will not fit in the spare tire well, even if you get mad and sit on it to make it fit. if you deflate it you can sorta wedge it on, but then you need to carry a compressor or pump
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