The snorkle is pretty much in the best location for cold air...the problem is with the stock airbox. Its too restrictive for what the engine is capable of drawing if you have a header and full exhaust, not to mention signicant modifications like cylinder head, cams, larger valves and a tune. If you're looking for a better intake for cheap, you can just put a cone filter onto the end of the MAF sensor after removing the stock airbox. Its pretty much the same as a short-ram intake, although for what you can get a SRI for there's really no reason not to.
I'd suggest a CAI of some kind...Volant or Pipercross, or maybe an AEM if hydrolocking doesn't scare you.