Help with my air filter

[53 Chevy5]

This has to be the biggest eye sore for this motor, the air filter sticking out like a donkey turd. I absolutely can't figure out what to do with it. I was thinking about sticking it in the front wheel well inside of a box with a cold air intake hole cut out behind the grill. The problem with that is If something wouldn't work, I would have made a mess out of a lot of things like a 4 inch holes that would need patching. Another option would be making and old looking oil bath style filter with my element in it and mounting that somewhere under the hood . Most pics of these things with the 5.3 show the filter where I have it, I've stared at it a lot and I'm running out of idea's. It does work where it's at but my intake temps are plenty high with it sucking hot radiator fan air all the time.