Can I install hardwood floor in bathroom, and how can I raise the toilet to accommodate the thicker floor?

I am considering installing a real hardwood floor in a small (half bath) because it is directly off a main hall where we will be puting hardwood. Installing the hardwood floor would result in raising the toilet about half an inch. Will this pose a problem? or can I get some kind of thicker wax ring and a set of longer floor bolts?????