Global warming doesnt necessarily lead to less ice on our planet. Increased global temperature will probably lead to decreasing ice caps in some places and increasing ice caps in other places. It is hard to tell what the net result will be. Much of the Ice caps are located in areas where the temperature always is far below the melting temperature. Ice will not melt much faster if the temperature is -5C compared to if the temperature is -15C. In many places increased temperature will instead lead to increased ice caps because it snows a lot more when the temperature is close to the melting temperature than when it is very cold.
An effect that is somewhat easier to predict is the thermal expansion of water. Hot water takes up more space than cold water, and since there is so incredibly much water in the oceans, this effect can be significant.
The sea level will not increase very much in any case. The most pessimistic predictions estimate up to one meter higher global sea levels during this century. One meter is serious enough for some places though.
From
http://www.climate.org/topics/sealevel/index.shtml:
Among the most vulnerable are countries with large populations in deltaic coastal regions such as Bangladesh, Viet Nam, China and Egypt.
Two populous island nations, the Philippines and Indonesia, have millions who face displacement from their homes from sea level rise. Several small island state nations including the Maldives in the Indian Ocean and the Marshall Islands and Tuvalu in the Pacific could face extinction within this century if rates of sea level rise accelerate. Most of their populations live very close to sea level and a rise of as little as a meter could prove devastating. Even before their lands had become uninhabitable due to inundation some would face loss of their fresh water supply due to salt-water intrusion.
The estimates are only for the mean sea level rise. As several posters have pointed out, the sea level is not the same everywhere. Local changes could be a lot more dramatic than the mean change.
Global warming will also likely lead to more storms, so more and stronger spring tides that temporarily flood low lying costal areas must be expected. This could cause temporary flooding of significant parts of low laying cities like Tokyo, Osaka, Bombay, Madras, Calcutta, Seoul, Bangkok, Dhaka, Karachi, Jakarta, Manila, Shanghai, Tianjin, Lagos, Cairo, Istanbul, London, New York, Los Angeles, Buenos Aires and Lima unless huge flood gates are built.