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.
belie belle bel blooie billie bailie bell biali below belay belly bellow bailee bal buhl bolo blah boil bola bale ball bawl bile bill blae bole blaw blew bail blow blue baal boll bowl bull
wheelie belie lie pele gillie nellie collie coolie goalie killie mealie ceili challie gelee ghillie selle deli duelli tele teloi wellie willie helio milieu plie billie belle bailie lieu quelea ghoulie nielli dele celli mollie doolie telae telia wallie melee hoolie woolie chelae