I looked around for a discussion of "I'm like" for "I said", and happened on Isabelle Buchstaller's article He goes and I'm like: the new Quotatives re-visited. But I couldn't get past the first two sentences:
The new quotatives, like and go, have assumed quite a number of functions outside the quotative frame. So far, all models proposed to explain their polyfunctionality rely on the postulate of unidirectionality in grammaticalization.