Hate to disagree with everyone, but Sunny 16 does not apply to taking a photo of the sky, only taking a photo when the sky is sunny with open clouds - very different!
Meters are designed to give proper exposure when measuring something that is called 'middle grey'. That's an 18% grey card, available at camera stores. If you meter off very white fluffy clouds, you get underexposure - the clouds will come out grey and the blue sky will be dark. If you meter off of the blue sky, I have no idea what you will get - depends on the shade of blue - it might meter as a good 'middle tone grey'.
I agree that bracketing would be a good idea. I would also not shoot with color-print film, it usually renders blue sky with a lot of gunk in it. I've never liked skies with color print film of any kind - marginally better with color-print film and a polarizer. B&W does a fine job, and so does most slide film. But both have less exposure latitude than color-print film.
I would take a meter reading of several different points in the sky - from darkest cloud to blue sky to fluffy white cloud and average them - add all the f-stops together and divide by the number of readings you took, using the same shutter speed. And then bracket like crazy too.
Best Regards,
Bill Mattocks