You will likely need a SYE with that 5" of lift. You can not use your stock shaft as you will need a CV type driveshaft, same as is found on the front of TJ's and XJ's. I often get a used front TJ or XJ shaft and have it shortened/balanced for the rear with a SYE.
You will also need to rotate your rear axle pinion upward, either by cutting the spring perches off and rewelding them, or using degree shims between the springs and the perches.
When you say 2" lift shackles, do you mean 2" actual lift increase or the shackles are 2" longer than stock? A shackle will only lift half the difference in length over a stock shackle, so in order to get 2" of lift you would need a shackle 4" longer than stock. A small amount of shackle lift isn't bad, but too much is ghetto, decreases approach and departure angles as well as messing with steering geometry and pinion angles. There are much better methods of achieving tire clearance.