I just did the same install a few weeks ago. I haven't had an issue. In fact it seems like the belt holds on to the pulleys tighter.
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2006 Limited 4.7L WK QD2
OME HD, Bilstein struts and 5125's rear, 1.25" Spidertrax spacers, 265/70/17 GY Duratrac's on Moabs, 36" firestik, Bwoody sway bar links,
30% tint on front windows, 6000K Xenondepot HID', Superchips, 4xBelly Guard, Plastidip