Mine has @ 17" inch Spare.
As I just added the NNBS Denali wheels and Bridgestone Dueller H/L Alenza's
(275/55R20) and my spare was totally worn and had a plug, I just installed a brand new one.
Tire Size: 265/70R17
http://www.discounttire.com/dtcs/infoTireMath.dos
Comparison shows that the diameter is as close as possible to the Bridgestones, only 0.3" inches smaller.
As already pointed out, one will in most cases only install a spare in an emergency in order to get home or to the next tire center. Therefore, the tire diameter will not have to be exactly the same in order for it to be used for a very short time/distance.
And as CHIP said, "Let's hope we never need it!"
Well said!