Dodge wheel stud size vs. rim
 

I have a 2001 2WD Dodge Ram 1500 Sport truck with 16" factory steel wheels. I bought a set of 17" factory alloy wheels that came off a 2007 4WD Dodge Ram 1500. Discovered a problem. My 2001 wheel mount studs are 1/2 inch, while the 17" wheels were designed for 5/8 inch studs.
Is there a safe and functional solution to the 1/8 inch difference in hole size; or will this just not work? Maybe shanked lug nuts, conical shanked lug nuts, some type of spacer sleeve?
Just bought some 60 degree tapered lugs. They seat against the rim. Is steel against alloy more apt to cause wear to the wheel?
Lost for answers.