First thing I personally like to do is get the DI signal, no matter what. You can re-amp later, or run software cab emulator plugs, or just leave it raw and solid in the mix. As long as the performance is solid, you got options.
I do like the sm7 (with the presence boost on) off-axis in front of a speaker but aiming at the HF horn, kind of a 45* angle in front of a higher speaker cone, and then throw an Audix D6 right up into a lower cone. Works awesome on 8x10s, I know it is kinda channel *****ish for a bass when most people just go direct, but whatever.
Yes, I am a bass player
If all you have is an SM7, I would say get the DI and combine the sm7 to taste in the mix to give it some presence and liveness.