I've taken a list of English words, and examined each of them to see what they sound like (using the PHP metaphone function). This page lists the most common metaphone codes, along with their words. You can also search for a word of your own, and see which words sound similar - and which ones rhyme, and which ones alliterate.
ballies bailies billies bialies bullies bellies balls bales bialis belies ballsy belles bals baileys boulles bailees bliss boles bawls bails bells biles bulls baals blues bless bills bolls balsa balas blueys boules bluesy bialys bellows bullous billows bullace bilious bowless bels buhls blaws blase boils bolos boughless blaze blows bolas blahs bowls bolus belays belows blouse blousy blowsy boylas bylaws
ballies challies billies dallies sallies collies fellies tellies dollies fillies gullies willies bellies nellies hollies sullies mollies killies gillies allies chillies wallies cullies dillies wellies dellies bullies rallies woollies kellies ghillies gallies lollies tallies jellies jollies sillies follies lies dalles challis volleys halloes goalies lieus tailless doilies muhlies soilless relies tulles wheelies belies colies belles rouilles callees plies molies malleus bailies galleys coalless dailies helloes toolless failles allees sailless mealies goalless polies mulleys heelless doylies chilies holies alleys milles ghoulies pulleys hulloes follis tuilles bialies coolies hilloes mallees soulless tallis felloes mealless cullis tailles rilles keelless valleys lilies milieus mailless walies flies pollees doolies gulleys filles quillais folles holloes selles boulles woolies wheelless chillis les lis
ball bailie bally biali billie bal