Don't do it. You need the axles in the front to hold the wheels on. "I am not 100% on this."
Also Depending on the year denalli you will burn up the transfer case.
I dont think the axles are holding the tires on... thats what lugnuts are for,no? idk
and about the transfercase,that makes some sence. i have a 2wd tranny laying around maybe i can just swap em