I also recommend the 14-150. I picked up a refurbed one from cameta for a good price:
Olympus M.Zuiko 14-150mm f/4.0-5.6 Micro ED Digital Zoom Lens - Factory Demo includes Full 1 Year Warranty
I kind of went back and forth when ordering my em5 about what to get. In the end I went with body only and spent that money on the 14-150. It is optically not the best lens around, but it's pretty good and there are times I need that versatility. I shoot some things for my wife's work and changing lens is not an option.
I primarily use the 9-18 underwater which I love.
I also have the 17mm and the 45mm from oly. The 17 is very good and tiny. The 45 is just stellar.
I plan on getting the 60mm macro for underwater mainly.
I recently traveled to europe and took with me the 14-150, 9-18 and the 17 just for small size and f2.8.
If I were to do it over again, I'd probably spend the extra money to get the 20mm/f1.7 over the 17mm, just for the faster lens.
But, the 17mm actually has a pleasing quality about it's images that's hard to put a finger on.