The labor cost should be between $75 and $110. I don't have a price available for the part, it seems to be a dealer item only. Please call around to your local GM dealers to find out what the part cost would be.
After you have removed the Bolts from the Stablizer both on the frame and lower control arm. With the front drivers wheel off, start pulling the unit out to see where it is interfering (you may have to remove one of the tie rods thats in the way. I had to remove one, but after that it came strait out the side. I don't think it makes a difference which side you use. Its sure simpler than the nightmare of lowering the sub frame.