ON Semiconductor (
www.onsemi.com) has several application notes (such as AN843) and data sheets on transient voltage suppression (TVS) devices. Also Vishay (
www.vishay.com) has the old General Semiconductor line of TVS devices.
These are basically large area zener diodes in small packages. They can handle large peak powers, but the total energy they can handle is usually limited by the package.
They require some source resistance to limit peak currents. This can be a small resistance in series with the power source or the dc resistance of a filter inductor.
Further filtering or regulation may be desirable. A further dropping resistor and zener could be used to provide a regulated voltage for the 555. Something in the neighborhood of 6 to 8 volts would probably be reasonable. Remember that the 555 is quite sensitive to supply voltage changes that occur during the timing interval.
If the dropping resistor is large enough, the zener diode used for regulation may also be capable of providing adequate transient protection.