He wouldn't be put in special ed for a learning disability like dyslexia, because it doesn't require special education all around. They would most likely come up with some sort of IEP to help him with reading.
I just saw that you answered your own question below, and I want to address a few things.
I haven't read the other answers so I don't know if anyone's truly being "judgmental" but you are doing your child a disservice by refusing to have him tested if by this age, he can't read. What are your other choices? Before ANYONE can help him, they need to know what the problem is!
If he DOES have dyslexia, all the tutoring in reading, extra reading, etc...that's only going to frustrate him more, so of COURSE it wouldn't be helping. He would need someone with specialized training to help him to learn to overcome his "disability" and read. It doesn't mean someone is going to sit with him in school, that he'll be labelled, or that anyone of the other children will even KNOW there's something different about him!
What the other kids WILL notice, though, is when everyone has to read aloud in class and he's the one messing up the words. I have one child in my Sunday School class who is in fifth grade and sounds like your son...and yes, the kids DO make fun of him. Please have him evaluated so he can learn to deal with it...and then no one will be laughing, because only he and you and whoever is helping him will know!
(And I do understand why you are emotional, trust me. TRUST ME. I hope you don't think I am being judgmental...I am trying to give you the best advice I can possibly give you.)
***ADDED*** Also want to second the suggestion that you get his eyes checked. My pediatrician always told me my daughter's eyes were fine, but I suspected they weren't after my very bright little girl did not start reading when I expected her to. So I went to an actual opthamologist, or whatever, and it turns out her eyes were so terrible that not only did she need glasses, but I can't see SQUAT through them, and I wear glasses myself! She has a very strong prescription, and now she reads great. Immediate change. Often times, the pediatric and even the school evaluations on eye sight are not accurate at all, because a child will strain their eyes to see the charts instead of being tested by a doctor who can look at their eyes with his machine and see what's wrong without them trying.