The size increase of the ePub file, of course, depends on the size of the font files in question. If you embed, say, a full Unicode version of the Arial font then yes, it'll increase by megabytes.
I just created two ePub file of ten short poems; one file with no fonts and one file with three embedded fonts. Their sizes are 172k and 377k. Fairly negligible size change when you consider they'll be placed on a 4GB SD card.
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