You are out of luck, I think. THe problem is not a SQL level problem as all other answers seem to focus on, but simply one of the user interface. Management Studio is not meant to be a general purpose / generic data access interface. It is not there to be your interface, but your administrative area, and it has serious limitations handling binary data and large test data - because people using it within the specified usage profile will not run into this problem.
Presenting large text data is simply not the planned usage.
Your only choice would be a table valued function that takes the text input and cuts it rows for every line, so that Management Studio gets a list of rows, not a single row.