It will fit, you'll need an 01-05 airbag as the shape is slightly different. Most 01+ airbags are dual stage vs. the single stage in 98-00, I've read that dual stage bags can be used by only connecting one wire, a search should give you the info. you need there. The RX300 wheel and airbag are another option if you'd like to upgrade to a wood wheel while you're changing it anyway.
Welcome to ClubLexus from a fellow Minnesotan! This thread would get a better response in the main 2GS section, this section is generally reserved for build threads chronicling the work people have done on the car rather than general questions.
Hey thanks for the answer! I'm liking the look of the 01-and newer wheel. airbag cost may be a hindrance but....much better style
I picked up a 1 owner '00 GS300 w 73k on it, snowbird car out of florida in winter, and minnesota in summer. super clean and all original metal, paint. Should be fun as I hear the 6 cylinder is one of the best for reliablility and the car is a good model for long lasting.