Roadtrip, a female cycling friend had this problem before she lost weight. The suggestions I gave her worked out well for her, and that is: 1)the Terry jerseys in a size 1x or 2)the Voler mens' jerseys in a size XL or XXL. Terry has a longer length and more room around the middle. Voler fits tight, but the longer length hid her belly, and they really make awesome jerseys.

Suggestion: try buying some used jerseys on eBay for a modest amount until you find the maker you like.

Another suggestion: If your cycling bottoms are too tight around the waist, fat will spill out over the top and be obvious in the jersey. If you wear cycling bottoms that are actually a bit too large around the middle, the waist will go higher and no fat will spill out, and the middle section will be compressed, making you look slimmer.

In reality, nobody sees you on the bike, except when you get off the bike. So don't worry about it too much. Focus on burning the calories and it will no longer be a problem.