I want to get a more horsepower out of my 97 5.7L Z-71 without spending to much. Any ideas would be appreciated.

When you say more exacty what do you mean? A K&N drop in filter will get you about 3-5 hp, a throttle body spacer claims to give you 12-15 hp. Also how much can you spend?

my truck already has the k&n air filter. I would prefer to spend less than $150. Id like more power off the line and get up speed.

Your going to be hard pressed to find a good mod to fit that budget,
if you have already installed better flow into your engine then the next logical move would be to get better flow out, "exhaust".
I replaced my exhaust a bit at a time but it is where I saw my greatest gains as well.
first a cat back, then new headers and Y pipe., but either one will go over your budget, you can have the chip played with but again this at any reputable place will go over your budget.
I have found many of my items at JEGS.COM/SUMMIT RACING.COM, then you can hunt e-bay for the same products cheaper,

I appreciate it. Im just trying to get some ideas for when I get a few hundred bucks to put into it. So any ideas would be appreciated.