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Delete the instance, then start another one from a volume. The flavor disk size doesn't count when you boot from volume.

If you need to keep the current state of the ephemeral root disk, take an instance snapshot. This results in an image. Create a volume from that image and launch an instance from it. I am not sure how large that volume would be, though.

There is no support for changing an instance from ephemeral to volume storage. While you could attach a volume and copy the root disk to it, I don't know how you can convince the instance to boot from the volume next time you reboot it.