I do not believe that there is any limit on the "number" of tunnels. The limit would be on how much traffic those tunnels are processing. Here is what the Cisco data sheet for the ISM says about capacity
The Cisco 2900 Series Module (ISM-VPN-29) can provide hardware-based IPSec encryption services of 145 and 550 Mbps in the Cisco 2901, 150 and 600 Mbps in the Cisco 2911, 220 and 700 Mbps in the Cisco 2921, and 385 and 900 Mbps in the Cisco 2951 (IPSec IMIX and 1400-byte packets).
here is the link if you want further information
http://www.cisco.com/c/en/us/products/collateral/interfaces-modules/vpn-internal-service-module-isr-g2/data_sheet_c78-682436.html
HTH
Rick
HTH
Rick